Asda has carried out the single largest overnight price cut of any petrol retailer so far this year and its largest since 2022.
From today, the supermarket has reduced the price of both petrol and diesel by 4p per litre at all of its Asda and Express branded forecourts.
The company stated that the move “re-affirms its position as the best value fuel retailer in the UK”. Prior to its takeover by TDR Capital and the Issa brothers, Asda had long been regarded as the price leader in the fuel market.
Executive Chairman Allan Leighton said: “At Asda, it’s in our DNA to give hard-working customers and their families the best value we can, no matter how they shop with us. This cut in our prices provides real savings when they fill up their cars with us, and they can find more in store too.”
Asda will now charge an average of 131.96p per litre for unleaded petrol and 137.63p per litre of diesel. This compares to a UK average of 138.98p per litre of unleaded and 145.79p for diesel, according to data from RAC Fuel Watch.
Oil prices recently fell to a six-month low, with further cuts at the pumps across the market expected in the coming weeks.
NAM Implications:
- Fuel pricing for food retailers was always a trade-off between extra in-store shopping traffic…
- …and queues of cars at the pumps.
- Hopefully this 0.05% price cut will strike an optimal balance…
