Late-summer driving is set to get less expensive as supermarkets compete to offer fuel price cuts.
Asda, Sainsbury’s and Tesco were all planning to reduce the cost of their petrol and diesel by 2p a litre.
In Asda’s case, the reduction means the Leeds-based retailer’s customers will pay no more than 126.7p a litre for petrol, with diesel being 129.7p a litre – its lowest price since January 2011.
Asda said a strengthening pound against the dollar had been the key driver behind the cuts.
RAC spokesman Simon Williams said falling wholesale prices do not always lead to cheaper forecourt prices as he welcomed the moves, adding: “The combination of the strengthening pound and the fact that tensions in both Ukraine and Iraq have not caused supply issues means wholesale prices have begun to ease again.
“The impact of the shale oil extraction in the US is also causing global oil prices to reduce due to more product becoming available in the market, which in turn reduces reliance on importing oil from the Middle East.”
AA spokesman Luke Bosdet warned of a possible “postcode lottery” as price falls in some areas could be slower than in others.