Three supermarket groups have cut their petrol prices, but the RAC is warning much higher prices could be on their way.
Asda started the round of cuts reducing its unleaded petrol by 2ppl, making its national price cap 126.7ppl.
Asda’s senior fuel buyer, Dave Tyrer, said: “Today’s latest move shows that Asda is once again cutting the cost of filling up for motorists following a decrease in the wholesale costs on unleaded. Our new national price cap of 126.7ppl will be welcomed by the millions of drivers across the UK who has seen prices rise by 10 pence per litre since the start of summer and are currently at their highest for 5 years.”
Asda’s currently fuel cap on diesel remains at 130.7ppl.
Morrisons then announced it would be cutting “up to” 2ppl from its petrol from tomorrow (September 27), and Sainsbury’s said it would be making the same cut from Friday September 28.
RAC fuel spokesman Simon Williams said: “Drivers will be relieved to see a major supermarket cut the price of petrol after weeks of rising prices. The wholesale price of petrol has been falling since the start of September so it’s right that retailers pass on the saving to motorists at the pumps even if it is a little late.”
But he warned: “However, while this is clearly good news there is a black cloud looming over UK forecourts as yesterday a barrel of oil hit $82 – a price not seen since November 2014. On top of this it is being predicted oil could rise towards $90 which, without a strengthening of the pound, could spell much higher prices at the pumps.”