The cuts come amid a fall in wholesale costs, with Asda slashing costs to its lowest price for petrol since April.
Asda announced today that it has reduced the price of a litre of petrol and diesel by up to 2p.
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The cuts mean drivers will now pay no more than £1.20 per litre of petrol and £1.24 for diesel at its 322 filling stations.
The slashed prices will be a welcome announcement for drivers with the festive season approaching, with the costs being Asda’s lowest petrol price since April.
Asda senior fuel buyer Dave Tyrer said: “With Christmas just around the corner, we’re pleased to be able to lower the cost of fuel and pass these savings on to our customers.”
Festive fuel deals
Drivers can also enjoy reduced prices at Morrisons’ filling stations, with the supermarket offering a deal that will knock 10p-a-litre off fuel to help with the cost of motoring during the busy festive season.
The supermarket is making the cuts to help motorists afford diesel and unleaded during the pre-Christmas shopping spree, with the deal available to customers who spend £60 or more in stores from 21 November to 1 December.
Customers will receive a voucher that will allow them to pay the lower price until 8 December.
For a typical 50 litre car, motorists will save £5 every time they fill up their car.
Earlier this week, the RAC accused fuel retailers of refusing to pass on a fall in wholesale prices, claiming drivers were being overcharged by more than 5p per litre for petrol and 4p for diesel.
Government figures published on Tuesday (19 Nov) showed the average cost of fuel in the UK was £1.26 for petrol and £1.30 for diesel.