Major supermarkets cut fuel prices

Supermarkets are cutting fuel prices. Picture: Getty Images/iStockphoto

Supermarkets are cutting fuel prices. Picture: Getty Images/iStockphoto - Credit: Getty Images/iStockphoto

Sainsbury's and Morrisons follow Asda in announcing they will cut fuel prices.

In what is the supermarket's fourth fuel price reduction in the past four weeks, Asda announced on Friday (November 23) that costs would be reduced, with Morrisons and Sainsbury's following suit.

Asda cut its national price cap by 1p per litre for petrol and 2p per litre for diesel and Morrisons and Sainsbury's matched the cut starting from Saturday.

Asda's senior fuel buyer Dave Tyrer said: 'Further decreases in the wholesale market mean we are able to reduce our prices again, with Asda's unleaded price dropped by up to 9p per litre since the end of October, and now we're seeing the diesel price drop below £1.30 for the first time in three months.'

The latest cut means drivers will pay no more than £1.19 per litre for petrol and £1.30 per litre for diesel at its 319 filling stations.

Morrisons head of fuel Ashley Myers added: 'With oil prices continuing to fall, we can now make the third cut in fuel prices this month.'

David Pegg, Sainsbury's fuel buying manager, said the cut would assist customers 'at this busy, festive time of the year'.

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RAC fuel spokesman Simon Williams said: 'It's great to see drivers benefiting from Black Friday too with this latest price cut at the pumps, which we now need to be followed swiftly by other retailers so the UK average price comes down.

'After so much of 2018 being characterised by rising fuel prices, it's heartening to see prices falling just as we enter the expensive festive period.

'While this is obviously good news, it's disappointing that it has not come sooner as the wholesale price of petrol has been falling for weeks.'

Petrol and diesel prices reached a four-year high in recent months.