Supermarket Asda is cutting fuel prices. The retail giant has announced five pence off a litre of unleaded petrol and three pence off diesel.
The price slash means the shop has reduced fuel prices by 9p on unleaded and 7p on diesel since the start of the week.
Luke Bosdet, AA’s fuel price spokesperson, said it was good news for drivers. He told the Express: "Asda’s price move is impressive, in effect cutting 10p a litre off the UK average price of petrol.
“That’s potentially a fiver off a tank for those filling up this weekend, compared to the artificially-high prices on too many major retailer forecourts and in too many towns. First, it was a few dozen small independent forecourts showing up the big boys. Now, Asda has called them out with on average a fiver off the cost of a tank of petrol."
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Simon Williams, RAC fuel spokesman, said: "This is great news for drivers as it will certainly encourage other retailers around the country to cut their prices."
However, he acknowledged it was “too late” for motorists who have not seen prices reduced at the pumps.
This is despite the wholesale price of petrol falling for the past seven weeks. There are still calls from many industry experts for a further cut to fuel duty to help drivers manage the cost of living crisis.
Drivers saw the all-time peak prices at the beginning of July, with petrol reaching 191p per litre and diesel just 1p short of hitting the £2 mark.
Nadhim Zahawi, the current Chancellor, has said “nothing is off the table”, with many looking at his Autumn Budget as the chance to cut it further.
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