Asda cuts fuel prices by 4p per litre at all its forecourts

It comes after the RAC said fuel prices should fall from a six-month high because of a drop in wholesale costs.

Pump prices will come down by at least 6p per litre for petrol and 3p per litre for diesel if retailers “pass on the savings they are benefiting from when buying in new stock”, the motoring organisation previously claimed.

Asda said the cuts implemented on Friday mean average prices at its forecourts are 132.0p per litre for petrol and 137.6p per litre for diesel.

It compared this with the average costs across the UK of 138.6p per litre for petrol and 145.8p per litre for diesel.

Asda executive chairman Allan Leighton said: “It’s in our DNA to give hard-working customers and their families the best value we can, no matter how they shop with us.

“This cut in our prices provides real savings when they fill up their cars with us, and they can find more in store too.”

The RAC said price cuts were possible because the cost of oil has dropped from above 80 US dollars (£61) in mid-January to below 70 US dollars (£54).

The Competition and Markets Authority watchdog found UK drivers paid a total of £900 million more for fuel at supermarkets in 2022 because of increased margins.