From today, Sainsbury’s will cut the cost of fuel at its 309 forecourts around the UK while Morrisons will reduce prices at its 333 filling stations, Tesco will cut prices at its 500 stations and Asda will reduce costs at its 307 stations.
We’re dropping the price of petrol and diesel by up to two pence per litre at all of our 500 petrol filing stations. pic.twitter.com/p3TKWGV71V— Tesco News (@tesconews) June 29, 2017
“We hope this will bring a little bit of sunshine to millions of motorists braving the rain over the next few days," said Izzy Hexter, Sainsbury’s fuel buying manager.
Asda's senior buying manager for petrol, Dave Tyrer, said its price cut means customers won’t pay more than 110.7p per litre for petrol or diesel.
Oil prices have fallen below $50 a barrel over the course of the month, bringing down wholesale fuel costs for supermarkets.
RAC fuel spokesman Simon Williams said: “The oil price, the biggest variable affecting UK fuel prices, is now at its lowest level in more than six months.
"The pound has also gained against the dollar lately – meaning the outlook for lower priced fuel over the weeks ahead is positive."
According to the AA, average UK pump prices have dropped from 116.52p a litre for petrol a month ago to 114.87p yesterday. Diesel is down from 117.58p to 115.68p.
“More and more non-supermarket fuel stations have been showing significant falls in forecourt prices, probably for fear of losing customers to Asda and the other big supermarkets,” said AA spokesman Luke Bosdet.
This is the second price cut made this month. Just two weeks ago, leading supermarkets cut petrol and diesel prices by up to 2p per litre.