ASDA have just revealed to PetrolPrices that they will be capping their forecourt prices from today, with unleaded capped at 116.7p per litre and diesel capped at 118.7p per litre. This is on top of price cuts from last week after the RAC called for supermarkets to cut their prices due to the price of a barrel of oil dropping.
The price of wholesale oil has now dropped to $61.46 and with the exchange rate stronger than last week, it seems like there is no reason for supermarkets not to cut their forecourt prices. It is also worth mentioning that smaller retailers may feel pressured but hopefully a cut will come from them in the next few weeks.
Last Thursday the price of oil dropped and the RAC called for the price of fuel to drop in supermarket forecourts as they are often the first to react to price cuts in oil. Initially, the RAC asked for a 3p price cut, and while there was a drop in some areas, others were barely affected and the overall reduction around the UK was 0.5p, which was hardly noticed by most UK drivers. Yesterday morning the RAC called for further cuts, and as far as we understand ASDA is the first to take action.
Jason Lloyd, Managing Director of PetrolPrices says “ASDA’s decision to cut their prices by 2p and capped for the whole of the UK shows why they lead the market on price. In truth, the RAC should get some credit for prompting them to make this change, but we’re sure the rest of the market will follow suit over the next few days. Wholesale costs have been falling over the last week so this is not unexpected but its a welcome boost to Britain’s drivers when the cost of being a motorist is at its highest ever recorded levels, which is discouraging some off the roads.”
At the end of half-term, this cut should come as a welcome relief for families who have been travelling around and need to fill up. This is an excellent result for drivers around the UK, and will hopefully encourage other supermarkets to cut their prices even further.
UPDATE: At 12:36 pm, on the 16th February 2018, Morrisons tweeted that they will be cutting their prices by up to 2p a litre.
UPDATE: At 4:13pm, on the 16th February 2018, Sainsburys tweeted that they will be cutting their prices by up to 2p a litre on unleaded and 1p a litre on diesel.
We aim to update this story as more news comes in from other supermarkets.
I got unleaded yesterday at Gloucester Morrison’s for £115.7
Fuel is still too high! Don’t worry tho the government will only tax the fuel more and OPEC will reduce output..so prices will go back up again soon!! Happy motoring
The present Conservative government hasn’t increased fuel duty since it came to power . Blame them for some things , but not fuel prices . If Labour had been in power , we would be paying at least £1.00 per gallon more .
Michael
If Labour has remained in power over the last number of years we wouldn’t have had to worry about petrol prices as we would all be riding bikes and be skint like people in Greece.
Every government has bashed the motorist, you are delusional if you think a Labour government would do anything to help
Well done to the RAC for pushing for the reduction in pump prices. Every reduction will help the motorists.
What grinds my gears is that Asda can charge 2p higher in Newark than it does in Grantham for diesel on recent visits. I think they should standardize the prices across the board. I have just received a fuel card from my business so am glad to boycott this rat race, as I can now put the money into smaller petrol stations and stop the supermarkets having all the power.
ASDA could have done this earlier when Tesco started issuing 10p per litre off voucher on purchase of £60 or over.
Why just supermarkets? Our local shell garage is always extortionate- currently £1.24 for diesel. LPG is 64p there. Morrisons LPG (18 miles away) is 53p. How can they justify that?
Shell and BP are the most expensive retailers.They justify the high cost as fair because they claim that the fuel they deliver is the cleanest in the country,ie BP Ultimate and Shell Nitro V-power diesel at £1.34 per gallon!
But that means we have to venture into run down areas which have Asda supermarkets, I would rather pay more I think than risk that.
I’m sure Waitrose will have to fall in line and then you will be safe.
dennisa
My local Waitrose does not have a petrol station attached to it.
But they do give free coffee and the Daily Mail when shopping there so that makes up for it
Ha I’d give the paper a miss that’s for sure!!
It was of course a joke.
LOL?
Motorway Service stations are the worst diesel £1.40 at Tamworth services on the M42 this week, a complete rip off. Avoid this service station if you can, drives need to vote with their feet on pump prices
1. 13 here even in tesco. Asda 1.12
Asda are still 2p per liter dearer than sainsburys
There’s a Sainsbury’s outside Edinburgh that charges 105.9 for Unleaded and is next door to an Asda which is 112.7. Whereas my local Sainsbury charges 119.9! It really annoys me why so much if a difference?
Stop multiple repititious requests to upgrade to PLUS!
Well done Asda, will be filling up tomorrow. Prices should be the same right across the Country.
Asda have only reduced diesel by 1p and petrol by 2p
Morrisons WILL BE CUTTING UP TO 2p/ltr. . . that’s very generous (sic) of them, I wonder when they intend to do it
The last two times I filled the tank full with Asda diesel the engine produced excessive smoke on start up. On both occasions the smoke stopped when I filled with another brand. I would be interested if others have had a similar experience. It would seem that not all diesel is created equally. As far as I am concerned, the price saving is not worth the embarrassment!
Unleaded 114.7 at Costco today.
Tesco frequently offer their Clubcard customers 10 p off EACH litre. That is on top of their low prices.
Great news for the motorist, but that’s nothing, Sainsbury’s in Wrexham has unleaded fuel at 112.9p per litre (refuelled on Sunday 18/02/18). Wrexham is repeatedly the cheapest place for fuel in North Wales
I have found when ASDA and Sainsburys petrol stations are very close together the prices of both are less than at most ASDA and Sainsbury stations They compete to be the cheapest
HOW can nearly $25 plus ( 30 plus % ) come of the price of oil and only 2p come off fuel how do these people price up fuel?