Asda cuts fuel costs amid slowdown

Asda has reduced its fuel prices amid a slowdown in family spending.

The supermarket chain has cut petrol by 1p a litre and diesel by 2p a litre, effective at all its 180 filling stations. And the company has promised the deal will last until the end of the bank holiday at least.

It means petrol will cost at most 111.9p a litre and diesel will be no more than 114.9p.

The price cut follows the results of Asda's monthly income tracker, which shows that, year-on-year, families have around £7 less disposable income every week

More research to be released by the company is set to predict more gloom, with UK families poised to face the lowest amount of disposable income for two years in the last three months of this year.

Asda president and chief executive Andy Clarke said: "These are increasingly uncertain times for millions of families across the UK."

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