Asda, Sainsbury's, Tesco and Morrisons are cutting petrol and diesel prices due to lower wholesale costs

 
Courtney Goldsmith
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Diesel and petrol prices have been reduced due to falling wholesale prices (Source: Getty)

A fresh price war has broken out over supermarket fuel ahead of a sweltering Father's Day weekend.

Asda, Sainsburys, Tesco and Morrisons have cut the cost of petrol and diesel prices by up to 2p per litre on the back of lower wholesale prices.

Asda led the pack, cutting fuel to 111.7p per litre at its 305 filling stations from tomorrow, representing its lowest price since December 2016.

Read more: Here's why your fuel prices fell last month - and why they could rise again

Sainsbury's, Tesco and Morrisons followed suit, slashing prices by up to 2p per litre across hundreds of filling stations.

"This is excellent news for motorists. But it’s particularly good to see a major supermarket reducing the price of diesel in line with petrol as the wholesale costs of both fuels are currently very similar," said RAC fuel spokesman Simon Williams.

“While the value of the pound has fallen since the election, the price of oil has also reduced, bringing down wholesale fuel costs which should rightly be passed on to motorists at the pumps," he said.

Brent crude, the global benchmark, was trading below $47 a barrel today, having fallen four per cent yesterday due to rising US stockpiles.

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Luke Bosdet, AA spokesman said: "UK average petrol prices have been stuck at around 116.5p a litre for the past six weeks and drivers were wondering when they were going to see the benefit of lower oil prices."

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