RAC prompts fresh fuel price cut by Asda

RAC prompts fresh fuel price cut by Asda
Asda has cut pump prices by another 2p, on the day the RAC urged supermarkets to lower fuel costs further.

The RAC has been calling on major retailers to lower their prices as much as possible to pass on savings sparked by the tumbling cost of oil.

Earlier this week, three of the big four supermarkets reduced costs on their forecourts by up to 2p – with the exception of Tesco – after oil prices fell to £44.88 per barrel, the lowest since mid-November 2017.

On Thursday, however, the organisation called for the cuts to go even further, after it was discovered savings weren’t being proportionately passed on across the country.

READ MORE: RAC sparks fuel price drop on supermarket forecourts

RAC said there was “scope for both petrol and diesel to be slashed by another 2p a litre at least”.

Asda has now done just that in a move hailed as doing the “the right thing for their customers”.

RAC fuel spokesman Simon Williams said: “This time Asda has announced a 2p fuel price cut with unleaded capped at 116.7p and diesel at 118.7p on the same day we called for a fresh price cut.

“The supermarkets have to be recognised when they do the right thing for their customers and the conditions are such that a further fuel price cut was due. We welcome the transparency and their swift response.”

Mr Williams added it would be great to see all four of the big supermarkets doing the same for motorists, now costs are finally falling after peaking at a three-year high earlier this year.

READ MORE: Asda cuts fuel prices after RAC calls for action

He said: “It would be good now to see other supermarkets following suit with a cut and, ideally, introducing their own price caps, even if they can’t drop their prices as low. And we would expect other fuel retailers large and small to bring their prices down as well.

“The indicators are pointing in favour of drivers, who have endured higher fuel prices since July 2017, with lower wholesale prices resulting from a fall in the oil price and a strengthening of the pound against the dollar.”

Copyright Press Association 2018. Motoring News articles do not reflect the RAC's views unless clearly stated.