What is Asda’s petrol price today, why have they cut prices and will it get even cheaper?
ASDA has become the first of the supermarket giants to cut the price of unleaded petrol - a pump price war that motorists may benefit from.
Petrol prices will fall by up to 2p a litre following a drop in wholesale costs - here's what you need to know.
What is Asda's petrol price today?
As of September 26, unleaded petrol at Asda is priced at 126.7p, an average 2p cheaper than Tesco, Morrisons and Sainsbury's.
The supermarket giant has priced diesel at 130.0p.
The UK average price of unleaded currently stands at 131.2p a litre, according to petrol comparison website PetrolPrices.com.
Why has Asda cut prices?
The reduction in petrol price takes force from September 26, and brings Asda's national price cap down to 126.7p a litre.
It says it's the only retailer to have a national price cap - although individual forecourts can price fuel lower than the cap.
Asda's senior fuel buyer, Dave Tyrer, said: "Our new national price cap of 126.7p per litre will be welcomed by the millions of drivers across the UK who have seen prices rise by 10 pence per litre since the start of summer and are currently at their highest for five years."
Luke Bosdet, the AA's fuel price spokesman added: "Once again, Asda has to take the lead in passing on fuel savings to drivers.
"Last weekend, despite three weeks of falling wholesale costs, the pump price of petrol hardly budged below the four year highs that families and businesses have had to endure."
Will it get even cheaper?
It's unclear as yet if the fuel will get cheaper, but The Sun has asked Morrisons, Sainsbury's and Tesco if they plan on cutting forecourt prices in response.
RAC fuel spokesman, Simon Williams, said: “Drivers will be relieved to see a major supermarket cut the price of petrol after weeks of rising prices.
"The wholesale price of petrol has been falling since the start of September so it’s right that retailers pass on the saving to motorists at the pumps even if it is a little late.
“But while this is clearly good news there is a black cloud looming over UK forecourts as yesterday a barrel of oil hit $82 – a price not seen since November 2014.
"On top of this it is being predicted oil could rise towards $90 which without a strengthening of the pound could spell much higher prices at the pumps.”
But diesel prices will not change. Asda says its national diesel price cap will remain at 130.7p a litre.
Why has the price of petrol gone up?
Tensions in the Middle East have caused petrol prices to go up, as the crude oil price has increased.
But the RAC blames the rise on a "punitive combination" of higher crude oil prices and a weaker pound.
The pound's weakness against the US dollar makes petrol more expensive as oil is traded in dollars.
But after President Trump withdrew from the Iran nuclear deal on May 9, fears of a war between Israel and Iran led some to believe Iran's energy exports may also be affected.
The crude oil price rose further following the re-election of socialist leader Nicolas Maduro in Venezuela and fresh US sanctions against the country.
Where are the best places to fill up to avoid the price jump?
If you are looking for cheap fuel you need to be checking these two sites.
allows you to do 20 free searches on petrol stations near you to see who has the best rates.
will also give you 20 free searches a week on a free account but only cover around 7,000 UK petrol stations.
The Petrol Retailers Association warned earlier this year that the wholesale price of petrol would jump further as tensions in the Middle East continue to rise.
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Petrol prices have soared to record highs in recent months with motoring group the RAC warning in September 2018 that the average cost of filling up a tank of petrol could soon hit a record high of £70.
Because of the way that supermarkets' contracts work with petrol suppliers this means that you often have a day or maybe two to fill up before prices rise,while petrol stations that are not attached to supermarkets work differently.
Petrol Retailers Association chairman Brian Madderson said: “The worst outlook of above $100 oil could send pump prices towards the record levels of 142ppl for petrol and 148ppl for diesel reached in April 2012.”
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