Supermarkets cut fuel prices by up to 4p per litre sparking fresh petrol price war
ASDA, Morrisons, Tesco and Sainsbury's have slashed the price of fuel by up to 4p thanks to a drop in wholesale costs.
The price cut means drivers filling up at an Asda petrol station will pay no more than 124.7p per litre on diesel and 123.7p per litre on unleaded petrol.
Morrisons, Tesco and Sainsbury's have not specified what prices drivers can expect to see at the pump.
Motorists will feel the effects of the price drop on Asda forecourts from today, while Morrisons, Tesco and Sainsbury's will come into effect tomorrow.
It's the second time in eight days that the supermarkets have dropped prices - it cut them by up to 3p per litre on June 6.
Asda was the first supermarket to announce cuts and, much like last time, Tesco, Morrisons and Sainsbury's followed suit just hours later.
Ways to cut down on your fuel costs
HERE are some tips on how you can slash the cost of fuel
- Make your car more fuel-efficient. You can do this by keeping your tyres inflated, taking the roof rack off, emptying your car of clutter and turning off your air con when driving at lower speeds.
- Find the cheapest fuel prices. PetrolPrices.com and Confused.com allows you to search prices of UK petrol stations. All you need to do is enter in your postcode and tell it how far you want to travel (up to 20 miles).
- Drive more efficiently. Some ways to do this, include:
- Accelerate gradually without over-revving
- Always drive on the highest possible gear
- If you can, allow your car to slow down naturally as your brake is a money burner
- Re-starting your car is expensive, if you can keep moving
May saw a global 4.3 per cent price increase on fuel compared to the year before, according to Asda's Income Tracker, the fastest rise since November 2018.
Jack Cousens, head of road policy for the AA said: "While Asda show themselves to be a friend at the pumps, others drag their heels favouring the "rocket and feather" approach.
"Low income families who rely on their car need an affordable source of fuel.
"Providing intermittent minimum spend in store for a money off voucher are often out of reach for those who most need it."
A spokesperson from the RAC: "We felt the price cut last week didn’t go far enough, and today’s news goes some way towards charging drivers a fairer price when they fill up.
"It’s particularly significant that diesel will now start to be priced much closer to petrol, which reflects the near-identical prices between the two fuels on the wholesale market.
Given fuel prices have been climbing steadily since February, it is important that on those occasions when wholesale prices fall significantly that this is quickly reflected at the pumps – even if that is for a relatively brief period."
Asda is dropping fuel prices across all 322 of its filling up stations - you can find your nearest one while you can search for your closest Morrisons one Sainsbury's one or Tesco .
But wholesale costs aren't expected to stay low for long after reports of a "torpedo attacks" on two oil tankers in the Gulf of Oman.
Until now, motorists have been hit with price hikes on fuel for four months in a row making petrol 11p a litre more expensive compared to February and diesel 7p pricier on average.
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Petrol prices soared by 5p a litre earlier in April which was the biggest increase in 19 years.
The cost of filling up your car varies wildly across the UK with motorists in the South East of England forking out the most for fuel.
Last month we revealed the towns and cities in the UK where you can buy the cheapest fuel.
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