More cuts to the price of petrol on the way

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Asda has kicked off yet another round of supermarket fuel price cuts.

From today, the Leeds-based supermarket is knocking a further 2p off the price of its petrol and diesel.

The latest reduction means that Asda customers will pay no more than 103.7p a litre on petrol, with diesel at 110.7p a litre.

Asda senior vice-president Barry Williams said: “Asda once again are leading this next round of price cuts, our 15th cut on fuel since September.”

Andy Peake, Asda’s Petrol Trading Director said, “Asda are again leading the way with our second price cut on fuel this week, we know how important it is to pass savings back into motorists’ pockets as soon as oil prices fall, which is why this is our tenth price cut since September.”

The reduction came after it was revealed that a Birmingham service station had cut the price of its petrol to 99.7p a litre.

The RAC, which has been forecasting that petrol prices would dip below the £1-a-litre mark, welcomed the news of the Birmingham service station price cut.

But the AA said that, although welcome, the Birmingham reduction “appears to be a publicity stunt rather than a reflection of general pump prices”.

AA president Edmund King said: “There remains a postcode lottery out there when it comes to fuel prices. Drivers in rural areas are still paying much more than the £1.09 average price and in some places £1.18. It will still take some time to get down to an average of £1 per litre, particularly as 70 per cent of the pump price is tax (57.95p duty and 18.3p VAT).”

Bradford-based Morrisons is also knocking a further 2p off their petrol and diesel.