Motorists have received an early Christmas present in the form of yet more fuel cuts by supermarkets.
Asda, Tesco, Morrisons and Sainsbury’s all announced they were reducing the price of their petrol by 2p a litre and also knocking 1p a litre off their diesel.
The Tesco cut takes effect from lunchtime today, while the other three big supermarkets will introduce the lower prices from tomorrow.
The Asda cut will take its petrol down to 112.7p a litre – the cheapest since October 2010. Asda’s diesel will drop to 118.7p a litre.
Amid falling world oil prices, supermarkets have introduced a number of fuel reductions over the last few weeks, including some during the last few days.
Asda’s petrol was as high as 126.7p a litre on September 28 this year so will have dipped 14p a litre by the time tomorrow’s cut comes into effect.
RAC fuel spokesman Simon Williams said: “Pump prices are really beginning to tumble in line with the fall in oil prices which will make visiting friends and family far cheaper this Christmas than last year.
“This latest round of cuts, which will no doubt be reflected by other retailers, should have a very healthy downward effect on the average petrol price of 119.10p.
“With oil now at the July 2009 price of 63 dollars a barrel and the pound still maintaining a steady 1.5 dollars there is a real sense average petrol prices could come down as low as 110p a litre, with diesel possibly dropping below 118p.”
