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Supermarkets cut fuel prices amid drop in wholesale costs

The reduction comes after the RAC accused fuel retailers of refusing to pass on savings.

Earlier this week the RAC accused fuel retailers of refusing to pass on a fall in wholesale prices (Nick Ansell/PA)
Earlier this week the RAC accused fuel retailers of refusing to pass on a fall in wholesale prices (Nick Ansell/PA)

By Neil Lancefield, PA Transport Correspondent

Three supermarket giants have announced a cut in fuel prices amid a fall in wholesale costs.

Asda reduced the price of a litre of petrol and diesel by up to 2p on Friday morning.

The announcement means drivers will pay no more than £1.20 per litre of petrol and £1.24 for diesel at Asda’s 322 filling stations.

This is the firm’s lowest price for petrol since April.

Morrisons and Sainsbury’s responded by pledging to implement the same price cut over the weekend.

Asda senior fuel buyer Dave Tyrer said: “With Christmas just around the corner, we’re pleased to be able to lower the cost of fuel and pass these savings on to our customers.”

Earlier this week the RAC accused fuel retailers of refusing to pass on a fall in wholesale prices, claiming drivers were being overcharged by more than 5p per litre for petrol and 4p for diesel.

Government figures published on Tuesday showed the average cost of fuel in the UK was £1.26 for petrol and £1.30 for diesel.

PA

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