Asda, Morrisons (LON: MRW) and Sainsbury’s (LON: SBRY) have all said they will cut the price of petrol by 2p a litre.
The supermarkets announced the decision after they were accused of not passing on savings of lower costs to customers.
Asda’s senior fuel buyer, Dave Tyrer, said: “Our new national price cap of 122.7p per litre will be welcomed by the millions of drivers across the UK.”
“Further decreases in the wholesale market mean we are able to reduce our prices again, seeing our unleaded price dropped by up to 5p per litre in just under two weeks.”
Ashley Myers at Morrisons said: “We’re passing on savings from falling wholesale costs and keeping our fuel prices far below the UK average.”
Government figures have shown that the average price of fuel in the UK is £1.30 a litre for petrol. Petrol prices have increased over the years, with the price of filling a 55-litre family car rising by £6 over the past six months.
Luke Bosdet, a spokesperson from AA, said: “With 4p knocked off the wholesale price of a litre of petrol through October, the AA has watched with dismay as average pump prices have trickled down by barely a penny.”
“Some supermarkets have chosen to pass on the savings as money-off offers – but only if you spent £60 or so in store.”
“Asda, as usual, will break the log-jam by cutting prices for all drivers and forcing other forecourts locally to follow suit”
“Sadly, beyond those areas, the pump prices will stay high as other retailers choose to hang on to the savings they should be passing on to hard-pressed consumers.”