Asda say their fuel prices will remain at their current lows to help people continue to travel to work and make essential journeys. Petrol costs fell by 3p per litre at the supermarket champion earlier this week as costs fell to 99.7p per litre.
This was backed up with diesel price falls of 4p per litre as costs tumbled to 104.7p per litre across forecourts.
In a statement, Asda said: “You’ll find that earlier this week we cut the price of unleaded fuel by 3p per litre and reduced diesel by 4p a litre.
“Our nationwide price cap means that motorists filing up at any of our petrol stations will pay no more than 99.7p per litre for unleaded and 104.7 per litre for diesel.
“Following the fall in oil prices, this fuel price cut means we can continue to support the nation during these unprecedented times and help lower the cost for people who need to be travelling to and from work and those who need to make essential journeys.”
READ MORE: Fuel pump prices may still be 12p too high
Asda confirmed the price drops were down to a fall in the price of oil which has plummeted since the start of the lockdown.
According to data from the RAC Foundation, wholesale petrol costs have fallen from 93p per litre to 74p per litre between January and March.
Wholesale petrol costs have dropped in the past couple of weeks, with costs as low as 69p per litre at the end of April.
Government data shows average fuel prices have fallen for fifteen consecutive weeks from the end of January.
Average petrol prices stood at 127.33p per litre on 27 january before recording over a 20p per litre drop in the past few months.
Costs now stand at 105.09p per litre but looks set to tumble even further before prices start to rise.
Diesel costs have also fallen from 132.88p per litre in January to just 112.22p per litre in a massive 20p decline.
Speaking to Express.co.uk, Howard Cox, founder of Fair Fuel UK said they were pleased to see supermarkets keeping prices “fair and honest”.
However, he warned costs could be reduced even further by fuel supply chains which were “holding back” on savings.
Mr Cox claims profiteering remained “entrenched” in the industry as he predicted costs could be reduced by a further 12p
He told Express.co.uk: “Delighted Asda is leading the way as per normal in keeping pump prices fair and honest.
“But the greedy fuel supply chain is still holding back on 12p of wholesale falls behind the Covid crisis.
“Profiteering remains entrenched, thank heavens for supermarkets. Without them prices would be even worse.”
Published at Wed, 20 May 2020 08:23:00 +0000