Three major supermarkets have slashed prices on petrol and diesel, just days after motoring experts said the Coronavirus outbreak in China will lead to lower fuel costs.
Asda kicked things off on Wednesday morning with its first fuel price cut of the year, effective from today.
It said drivers filling up at any of its 322 petrol stations will benefit from a 3p per litre price cut across both unleaded and diesel.
The cut means drivers filling up at any Asda filling station will pay no more than 120.7ppl on unleaded and 124.7ppl on diesel.
Asda fuel buyer, Dave Tyrer said: "January has been a tough month for motorists so we're glad to be dropping the cost in line with falling wholesale markets.
"We will continue to put the savings straight back into drivers pockets without any vouchering requirements meaning all our customers, regardless of their budget, will benefit from a price cut at the pumps."
Sainsbury's was also quick to follow suit - also knocking prices by 3p a litre across all of its 315 forecourts from Friday.
Customers will be able to collect Nectar points every time they fill up - at one point per litre purchased.
However .
"As we head into the start of February we are committed to helping our customers live well for less, which is why we’re dropping the price of both unleaded petrol and diesel by up to 3 pence per litre across every single one of our forecourts from Friday," David Pegg, fuel buying manager for Sainsbury’s, said.
"Average UK petrol and diesel pump prices have been at their highest for a January since 2014 and, despite wholesale costs declining over the past two to three weeks, they have stayed stubbornly above 128p a litre for petrol and 132.5p for diesel," Luke Bosdet, at the AA added.
"This new price cut is in line with wholesale petrol falling from an average of 39.4p a litre in early January to the 37.0p between Wednesday and Friday last week."
Morrisons was next, dropping the cost of diesel and unleaded by up to 3p a litre from Friday at all of its 335 petrol stations.
Ashley Myers, Morrisons head of fuel, said: “We always aim to pass on savings as soon as we can and keep our fuel prices well below the UK average.”
On Monday, .
It said petrol and diesel prices would drop as the amount of oil used by China - the world’s second largest oil consumer - plummets due to people restricting their travel plans.
RAC fuel spokesman Simon Williams said: "Some drivers are no doubt aware that fuel prices in the UK are affected by global events, but many will be shocked to hear the Coronavirus outbreak in China should lead to the price of petrol and diesel falling dramatically.
"We urge the supermarkets, who are so influential in what drivers pay for fuel due to their massive market share, to pass on the wholesale savings they’re benefiting to motorists at the pumps, especially as they have actually increased forecourt petrol prices every day since 2 January."
