Recent rises in fuel costs have been reversed by supermarket chain Asda, which has cut pump prices for petrol and diesel by 3p per litre. The discount applies from today (January 29).
That means Asda fuel stations across the country will be offering petrol at 120p per litre, and diesel at 124p per litre.
“Average UK petrol and diesel pump prices have been at their highest for a January since 2014 and, despite wholesale costs declining over the past two to three weeks, they have stayed stubbornly above 128p a litre for petrol and 132.5p for diesel,” said Luke Bosdet, the AA’s fuel price spokesman.
“This new price cut is in line with wholesale petrol falling from an average of 39.4p a litre in early January to the 37.0p between Wednesday and Friday last week.”
As the RAC reported, the drops in the cost of fuel could partially be down to the rise of the Coronavirus in China, and the resulting sharp drop in travel. Less travel means increased supply, which means a lower price. This followed the tensions between America and Iran causing fuel prices to jump in the early weeks of January.
Fuel vouchers in January: ‘quite simply mean’
Bosdet goes on to criticise other supermarkets that are passing on savings to customers in a roundabout way. Fuel vouchers mean that drivers can get 5p off per litre of fuel they buy, but only if they spend a certain amount in-store.
“Once again, if you’re on a low income and your spending power isn’t up to it, you miss out,” Bosdet followed.
“Given the time of year with customers trying to pay off Christmas debts and fuel costs falling dramatically, that discrimination is quite simply mean.”