After an independent supermarket cut its petrol to below £1 a litre on Monday, Asda has cut the price of leaded petrol to 99.7ppl for a three-day period, with diesel down to 103.7ppl.

Asda had previously stated it would not be taking part in Black Friday price cutting and claimed its move was to celebrate the Chancellor’s decision to maintain his freeze on fuel duty.

The prices are down 4ppl on unleaded and 3ppl on diesel compared with its previous price cap. On Monday, Asda will revert to 103.7ppl on unleaded and 106.7ppl on diesel.

Asda president and CEO Andy Clarke said: “The Chancellor’s freeze on fuel duty is what our customers were hoping for. We’re adding a further boost by investing in a three-day fuel price drop meaning drivers can now benefit from fuel as low as 99.7ppl in the crucial run-up to the festive period. We’d urge the Chancellor to continue with a freeze on fuel duty in the March Budget to help maintain discretionary income levels for families.”

Meanwhile independent supermarket Jempson’s, at Peasmarsh in East Sussex, is maintaining its prices at 99.9ppl and 103.9ppl after putting them down on Monday November 23. Referring to Asda’s three-day offer, director Stephen Jempson said: “We are not into gimmicks.”

RAC Fuel Watch spokesman Simon Williams said: “Due to the latest dip in the crude oil price we had predicted that the most price-competitive fuel retailers would soon be selling petrol for £1 so it is great to see that landmark price is now available across the country at the most expensive time of year.

“Even though this promotion only lasts for three days it will help to bring prices down at forecourts nationwide. While we are some way from seeing the average petrol price reach £1, prices at more and more retailers should be getting ever closer to that figure.

“RAC wholesale fuel data shows there is still scope for retailers to reduce prices further, especially for diesel.”

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