Asda has become the first of the big four supermarkets to cut petrol prices after the RAC demanded an immediate 3p a litre cut in the price of a litre of unleaded.
The supermarket giant has reduced the price of unleaded petrol by 2p a litre, which will leave it costing a maximum of 122.7p a litre nationwide.
Asda’s move follows another 3p a litre cut in prices on 26 October.
Over the weekend, RAC Fuel Watch accused retailers of ‘taking motorists for a ride’ after the wholesale price of petrol fell more than 3p a litre during August.
RAC fuel spokesman Simon Williams therefore welcomed Asda’s move. “This is excellent news for motorists as it should spark cuts from all retailers bringing the price of petrol down nationwide from its current average of 130.46p a litre.
“We badly need a case of ‘follow the leader’ now and for big retailers to actually have the often-talked-about ‘pump price war’ as that would rightly benefit consumers.”
Diesel prices may finally be set to reduce too, added Williams. “There is also better news on the horizon for diesel drivers. While diesel has risen substantially to an average of 136.79p, and unfortunately still appears to be going up, it should now begin to reduce as the wholesale price has started to fall.”
Motoring Research will watch with interest to see if any of the other supermarket fuel retailers follow suit.