Price cuts have been brought in on fuel by the big four supermarket groups.

On Monday August 1 Asda said it was cutting the price of unleaded petrol and diesel by 2ppl with its new price cap of 105.7ppl on unleaded petrol and 106.7ppl on diesel, and this was matched by Morrisons.

Andy Peake, Asda’s senior director for petrol, said: “It’s the start of the summer holidays and we know families will be getting out and about all across the country which is why we’re dropping the price of fuel.

“At Asda we always pass on any savings we can make to our customers, so it’s great to see that costs have dropped despite early predictions that the cost of fuel would increase following the outcome of the EU Referendum.”

Tesco reduced its prices by 2ppl from 5pm on August 1 and Sainsbury’s introduced the same cut on August 2.

Commenting on the cuts RAC fuel spokesman Simon Williams said: “We wonder how long motorists would have had to wait for a decent forecourt cut had the RAC not drawn attention to the fact that wholesale fuel costs had reduced substantially in the last month.

“This price cut takes us back to a supermarket price that was last seen in early May.”