UK supermarket chain Asda has cut its petrol prices to their lowest level since January, marking a fresh round of petrol price wars. Sainsbury's and Morrisons have signalled that they intend to follow suit, and Tesco is widely expected to also drop its prices in response.
Asda’s new national fuel prices will see unleaded petrol drop to 87.9 pence per litre and diesel fall to 92.9 pence per litre at its 167 UK forecourts. Sainsbury’s and Morrisons intend to drop their unleaded petrol price to the same level, according to the BBC.
The price cuts have been prompted by a drop in the price of crude oil.
We have seen significant falls in petrol costs as surplus gasoline drives market prices down, commented Asda trading director, Andy Brem. We have taken the opportunity to pass on these savings to all our customers by moving to the same price nationwide.