Asda has announced a price cut of two pence per litre across both unleaded and diesel fuel effective from today. 

Drivers filling up at one of its 322 petrol stations will benefit from the price cut which has now seen the retailer bring fuel prices down by up to 9 pence since January.

Drivers filling up at any Asda filling station will pay no more than 116.7ppl on unleaded and 118.7ppl on diesel, which brings fuel prices down to its lowest since April 2019. It’s the first time that diesel prices have dropped below the 1.20 mark for nearly two years.

Asda senior fuel buyer, Dave Tyrer said: "Once again we’re pleased to be passing on wholesale cost reductions to customers. It will be a welcomed boost, especially to diesel drivers who are seeing some of the lowest fuel prices since 2018. 

“Mid-February saw the chunk of the petrol pump price that is directly attributable to the fuel trade grow to its biggest in more than a year. Stripping out tax and wholesale costs (from two weeks before to allow changes to reach pumps fully) left an 11p surplus for retailers and suppliers – around 2p up on the same time last year,” says Luke Bosdet, the AA’s fuel price spokesman.

“This has come as too many forecourts held on to savings from lower wholesale costs feeding through to their pumps. Even when Asda announced its second price cut of the year, a 3p-a-litre reduction on Wednesday 29 January, it took until the following Monday for the UK average to drop just a penny as other retailers squeezed another weekend’s worth of high prices out of consumers”.

Asda’s Income Tracker report for January showed that the average rise in fuel prices of petrol and diesel rose by 2.3p and 2.6p per litre, respectively, however Asda lowered fuel prices by 3 pence per litre on both grades that month.