Asda, Morrisons and Sainsbury’s have all cut the price of their fuel – for the second time in a fortnight.
Asda announced an up to 2ppl drop in the price of unleaded and up to 1ppl off diesel on its national price cap this morning, following further decreases in the cost of wholesale oil. The retail giant’s new national fuel price cap means that its customers will pay no more than 122.7ppl on unleaded and 126.7ppl on diesel at its 318 filling stations.
Sainsbury’s and Morrisons both announced a similar cut in prices, which will come into effect tomorrow (June 23).
The announcements follow May’s record rise in fuel prices where petrol saw its highest monthly increase (+6ppl) since the RAC began tracking prices 18 years ago. During May, unleaded rose from an average of 123.43ppl to 129.41ppl. The increase in the price of diesel during May was slightly more, at 6.12ppl, but this was not a record as it had increased by 8.43ppl in May 2008.
The RAC welcomed the latest supermarket cuts. Fuel spokesman Simon Williams said: “It’s great to see supermarkets passing on savings in the wholesale cost of fuel to motorists who have endured rising prices at the pumps since the end of March. A litre of petrol is now 13p more expensive than a year ago while diesel is 15p dearer so every penny that comes off the forecourt price is very welcome.
“We are hopeful that OPEC’s meetings in Vienna today and tomorrow will result in oil production restrictions being lifted which could lead to cheaper fuel prices for drivers in the UK.”