Supermarkets cut fuel price amid drop in wholesale price

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Three supermarket giants have announced a cut in fuel prices amid a fall in wholesale costs.

Asda reduced the price of a litre of petrol and diesel by up to 2p on Friday morning.

This is the firm's lowest price for petrol since April

This is the firm's lowest price for petrol since April

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The announcement means drivers will pay no more than £1.20 per litre of petrol and £1.24 for diesel at Asda's 322 filling stations.

This is the firm's lowest price for petrol since April.

Morrisons and Sainsbury's responded by pledging to implement the same price cut over the weekend.

Asda senior fuel buyer Dave Tyrer said: "With Christmas just around the corner, we're pleased to be able to lower the cost of fuel and pass these savings on to our customers."

Earlier this week the RAC accused fuel retailers of refusing to pass on a fall in wholesale prices, claiming drivers were being overcharged by more than 5p per litre for petrol and 4p for diesel.

Government figures published on Tuesday showed the average cost of fuel in the UK was £1.26 for petrol and £1.30 for diesel.