Asda has announced that it has cut the price of fuel for the second time in a week with a price reduction of 4ppl on diesel and 2ppl off unleaded.

Effective from today, Wednesday 5 February, its price cap will be 118.7ppl on unleaded petrol and 120.7ppl on diesel.

The new reductions mean Asda has cut 7ppl from the cost of diesel and 5ppl from petrol in the past week.

Asda senior fuel buyer Dave Tyrer said: “We’re pleased to be passing on these wholesale cost prices to customers for the second time in two weeks as the price of oil continues to fall.

“We will continue to put the savings straight back into drivers’ pockets without any vouchering requirements meaning all our customers, regardless of their budget, will benefit from a price cut at the pumps.”