Minimum supermarket prices for unleaded petrol have fallen below 120ppl, as predicted in the November issue of Forecourt Trader, after the big three all cut 1ppl off their fuel prices.

Today Asda introduced its fifth price cut in less than six weeks, taking 1ppl off both unleaded petrol and diesel, which brings its price cap down to 119.7ppl on unleaded petrol and 123.7ppl on diesel.

This contrasts with Sunday September 28, when its price cap was 126.7ppl on unleaded petrol and 129.7ppl on diesel.

Andy Peake, Asda’s petrol trading director, said: “Asda has led and will continue to lead on these price cuts as we know how important it is that we pass savings straight back into driver’s pockets as soon as prices fall. No matter where customers live, they will benefit from the same fuel price with our national price cap of 119.7ppl for unleaded and 123.7ppl for diesel.

“While other supermarkets will follow the fuel drop, Asda is the only retailer that has a national price cap on fuel, ensuring every single one of our customers knows the maximum price they will pay at the pump regardless of where they live.”

Tesco got in first with its price cut introducing its reduction by lunchtime yesterday. As it announced the cut, Peter Cattell, fuel director for Tesco, said: “We’re pleased to announce from lunchtime today we’ll be dropping the cost of petrol and diesel by 1p at all of our 500 filling stations. As Britain’s biggest fuel retailer this means more motorists can make real savings.

“This is part of our continuing efforts to pass on savings to customers and help bring down the cost of living. We also offer Clubcard points and savings through Clubcard Fuel Save, which saves our customers up to 20ppl.”

Like Asda, Sainsbury’s introduced its price cut on Friday morning. Avishai Moor, Sainsbury’s head of fuel, said: “We always aim to offer our customers the very best value on everything we sell and that’s why we’re dropping the price of unleaded petrol and diesel by 1ppl at all our petrol stations. This is another way in which we can offer our customers real value for money when they fill up with Sainsbury’s.”