Asda and Sainsbury’s are cutting fuel prices following further decreases in the wholesale cost.

Asda is taking 3ppl off national unleaded and diesel from its national price cap

The latest round of cuts has been kicked off by Asda, which is taking 3ppl off unleaded and diesel from its national price cap from today, which means that drivers across the country will pay no more than 119.7ppl on unleaded and 131.7ppl on diesel.

Asda has now dropped the price of unleaded fuel by up to 8ppl since the start of November.

Sainsbury’s has since announced it’s cutting the price of unleaded petrol by up to 2 pence per litre across its 312 forecourts – effective from Saturday 17 November.

RAC fuel spokesperson Simon Williams welcomed the price cuts but said the cost of buying petrol on the wholesale market has dropped like a stone and called for at least 5p to come off the average price of unleaded at the pumps of 128.84p.

The news came just hours after the FairFuelUK campaign slammed the fuel industry for not passing on the cuts in wholesale costs, which it said has seen UK fuel supply chain take as much as 16.13p profit per litre from petrol drivers in the last two months.

The organisation – which has reiterated its calls for an independent fuel pricing watchdog – added that the profit margin on unleaded has risen by 156% since August “as the road fuel supply chain absorbs cost savings that should be honestly and fairly passed onto the country’s 37m drivers in a time of consumer hardship and Brexit uncertainty”.