Asda unveils major change to all UK petrol stations as it slashes petrol and diesel prices

Sainsbury's announces ban that will affect all of its petrol stations

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In a move which will affect Asda’s 323 petrol stations, the supermarket chain has announced that it would cut the price of fuel. Drivers will now save five pence per litre of unleaded petrol and three pence per litre on diesel.

Motorists looking to fill up will pay an average of £1.74 per litre for unleaded and £1.85 for a litre of diesel.

The latest price reduction follows a cut of four pence per litre earlier in the week.

This means the supermarket has reduced fuel prices by 9p on unleaded and 7p on diesel since the start of the week.

Commenting on the move, Luke Bosdet, AA’s fuel price spokesperson, said it was good news for drivers.

He added: “Asda’s price move is impressive, in effect cutting 10p a litre off the UK average price of petrol. 

“That’s potentially a fiver off a tank for those filling up this weekend, compared to the artificially-high prices on too many major retailer forecourts and in too many towns.

“First, it was a few dozen small independent forecourts showing up the big boys. 

“Now, Asda has called them out with on average a fiver off the cost of a tank of petrol. 

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“Latest UK pump price averages have petrol at 184.50p a litre (27 July).”

Record pump prices in early July led to 64 percent of drivers cutting back on car use, other consumer spending or both to afford to keep their cars running.

In November, when petrol was around 45p a litre cheaper, it was 43 percent.

Those cutting back on other non-fuel spending to compensate for high forecourt prices has risen from 12 percent to 20 percent.

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RAC fuel spokesman Simon Williams said: “This is great news for drivers as it will certainly encourage other retailers around the country to cut their prices.”

He did, however, acknowledge that it was “too late” for motorists who have not seen prices reduced at the pumps.

This is despite the wholesale price of petrol falling for the past seven weeks.

There are still calls from many industry experts for a further cut to fuel duty to help drivers manage the cost of living crisis.

The then-Chancellor Rishi Sunak announced a reduction of five pence to fuel duty during his Spring Statement.

However, this did little to lower prices, with prices of petrol and diesel soon rising again.

Drivers saw the all-time peak prices at the beginning of July, with petrol reaching 191p per litre and diesel just 1p short of hitting the £2 mark.

Nadhim Zahawi, the current Chancellor, has said “nothing is off the table”, with many looking at his Autumn Budget as the chance to cut it further.

Morrisons have also announced further price cuts to be unveiled on Saturday.

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