Announcements by Asda and Sainsbury’s of unleaded price cuts have been welcomed by the RAC, which says more retailers are expected to follow suit.
Effective from today, Friday 13 September, Asda is cutting the price of unleaded fuel by 3 pence per litre following continued decreases in wholesale costs. This means, under the Asda fuel pricing cap, drivers will pay no more than 122.7ppl on unleaded.
Sainsbury’s has since followed by saying it’s cutting the price of unleaded petrol by up to 3 pence per litre across all of its 314 forecourts,.
The RAC, which earlier this month accused retailers of not passing on a big drop in wholesale costs, said the cut was welcome but long overdue.
RAC fuel spokesman Simon Williams said: “Drivers have been paying more than they should have for weeks due to savings in the wholesale price of petrol which retailers have failed to pass on until today.
“There have been times in the past when retailers have acted more transparently by passing on savings brought about by lower wholesale prices, but unfortunately this won’t go down as one of them.
“This cut should, however, lead to the average price of petrol falling as a result of all retailers following suit. Currently, unleaded is 128p a litre on average around the UK so this will help to move it towards 125p in the next week or so, saving drivers more than £1.50 every time they fill up.”