Asda to cut fuel prices for fourth week in a row

Asda will cut the price of fuel for the fourth week in a row tomorrow, and for the sixth time since late October.

Motorists will benefit from 2p off per litre of unleaded petrol and diesel from Saturday as wholesale costs continue to fall.

It means motorists will pay no more than 114.7p per litre for unleaded and 125.7p per litre for diesel.

Other supermarkets are now expected to follow suit in the run up to Christmas.

But following the drop in oil prices, critics believe this is a move that could have happened as long as two months ago, and could still be improved.

RAC fuel spokesperson Simon Williams said: “Fuel has been overpriced on our forecourts for over a month so while this is another step in the right direction, all retailers should have reduced prices far quicker.

"Instead many have capitalised on a chance to make more money while hard-pressed motorists continued to fork out for unnecessarily expensive petrol. We need reductions in the wholesale price to be passed on quickly in the same way increases are when oil is going up."

There is also concern regarding a meeting in Vienna today between Opec oil producers, which account for around a third of the world's oil supplies.

With demand for oil dropping and the price following suit, the group looks likely to decide to cut back production in order to keep prices higher.

“Any agreement to curb output could mark the start of rising oil prices again, which is likely to have the effect of pushing up wholesale fuel prices – and in turn the price motorists in the UK pay to fill up," Williams added.