Asda sparks petrol price war
Asda has bucked the trend of ever-increasing petrol prices by announcing that it will be reducing the cost of fuel at its pumps.
The supermarket chain has revealed plans to lower the cost of petrol by 2p to 115.9p, while diesel comes down by 1p to 118.9p.
The news comes as petrol prices sit at a record national average of 121.6p per litre, despite evidence of shrinking wholesale costs.
Motorists will be hoping that the announcement sparks a price war amongst supermarket garages, as previous cuts have seen rivals such as Morrisons and Tesco slash prices as well.
Asda commercial director David Miles said: "Yet again, Asda is leading UK fuel prices down. Motorists will be relieved commodity prices are coming down and as always we are the first to reflect falling costs in our prices at the pump."
UPDATE: Tesco has now confirmed that it will join the price-dropping party and will be lowering the cost of fuel by 2p a litre at all 450 of its stores around the country.
"We have recently seen an easing of the pressure on world oil prices and as always we wantto pass these lower prices back to customers as quickly as possible," said a Tesco spokesman.