Supermarkets announce 2p per litre price cut

Price cut, just in time for the weekendPrice cut, just in time for the weekend
Price cut, just in time for the weekend
Several supermarkets have announced fuel price cuts of two pence per litre amid a reduction in wholesale costs.

Tesco was first to confirm the move, followed by Asda, Sainsbury's and Morrisons.

It is the second such price reduction by supermarkets this month.

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From Saturday, motorists will pay no more than £1.13 per litre for petrol and £1.15 for diesel at Asda's 301 filling stations.

Industry experts say the lower wholesale price of fuel has been brought about by a continuing glut of crude oil partly caused by the United States increasing production from fracking.

UK motorists were being charged an average of £1.19 per litre for petrol and £1.22 for diesel earlier this week, according to Government figures.

RAC fuel spokesman Simon Williams called on all retailers to lower prices.

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He said: "We were at the point where motorists should have been starting to feel aggrieved that pump prices were higher than they ought to be.

"The last thing retailers need is for the public's trust in their pricing policies to be undermined.

"We strongly urge other retailers, large and small, to follow suit and bring the price of petrol and diesel down around the country."

AA spokesman Luke Bosdet said: "Our main concern will be with prices in small market towns without a supermarket presence. They very often become the land that fair prices forgot."