Supermarkets announce price cuts

Fuel prices look set to tumble after Asda, Morrisons and Sainsbury’s announced they will cut prices by up to 3p a litre.

Prices at Asda and Morrisons forecourts will be reduced from today with prices at Sainsbury’s reduced from tomorrow.

They are the first supermarkets to announce price cuts following a fall in wholesale costs. Tesco is expected to follow suit shortly.

The news follows four consecutive months of price rises.

Luke Bosdet, the AA’s fuel price spokesman, said, ‘UK drivers have been thrown around on a year-long pump price rollercoaster that has added 10p a litre, taken it off and then put it back on again. Families with cars react badly to price shocks, but worse still when falling wholesale prices aren’t reflected at the pump.

‘In the past fortnight, wholesale petrol and diesel prices have dropped but average UK pump prices have continued to rise.’