Supermarkets Asda, Morrisons (LON: MRW) and Sainsbury’s (LON: SBRY) have all cut petrol and diesel in time for Black Friday.
As wholesale prices have decreased, the price of petrol has dropped at filling stations starting from Friday.
The first supermarket to announce the changes was Asda, which has decreased the price petrol price by 1p and diesel by 2p per litre.
“Further decreases in the wholesale market mean we are able to reduce our prices again, with Asda’s unleaded price dropped by up to 9p per litre since the end of October, and now we’re seeing the diesel price drop below £1.30 for the first time in three months,” said Dave Tyrer, who is Asda’s senior fuel buyer.
Sainsbury’s and Morrisons will match the price starting on Saturday. The changes to prices will mean that petrol will cost no more than £1.19 per litre and diesel will cost a maximum of £1.30.
David Pegg, the fuel buying manager at Sainsbury’s, said: “At this busy, festive time of year we are committed to helping our customers live well for less and that’s why we’re dropping the price of unleaded petrol and diesel from tomorrow.”
“Whether in-store or at the pumps, customers know they will get fantastic value with Sainsbury’s.”
The drop in price is welcomed by motorists. Earlier this year, fuel price hit a four-year high.
“It’s great to see drivers benefiting from Black Friday too with this latest price cut at the pumps, which we now need to be followed swiftly by other retailers so the UK average price comes down,” said RAC fuel spokesman Simon Williams.
“After so much of 2018 being characterised by rising fuel prices, it’s heartening to see prices falling just as we enter the expensive festive period. While this is obviously good news, it’s disappointing that it has not come sooner as the wholesale price of petrol has been falling for weeks.”
