The four major UK supermarkets announced a new round of petrol price cuts on Monday, reflecting falls in wholesale prices and more favourable exchange rates.

Asda was the first to move saying it was cutting the price of unleaded by up to 2p a litre (ppl) from Tuesday morning, and that drivers would pay no more than 133.7ppl at any of its 217 forecourts.

In its announcement Asda said it was the only supermarket to have a national price cap when it cut the price of fuel, so drivers know the maximum they will pay wherever they live.

The price of diesel remains the same at no more than 137.7ppl after last week’s cut of up to 2ppl.

Petrol trading director Andy Peake said: “Everybody filling up at an Asda fuel station will pay no more than 133.7ppl for unleaded, unlike some of our competitors whose prices vary across their forecourts by up to 6ppl more.”

Sainsbury was the next to move, announcing 45 minutes after Asda’s statement that from Tuesday it was reducing the price of unleaded at its 280 forecourts by up to 2ppl.

Less than two hours later Tesco said it was dropping petrol prices by up to 2ppl from Tuesday, and shortly after that Morrisons announced it was cutting the price of unleaded by up to 3ppl and diesel by up to 1ppl.

Mark Todd, petrol director for Morrisons, said: “Further falls in wholesale prices mean we can pass savings on to customers and continue to offer some of the lowest prices on the market.”