Asda and Tesco to cut petrol prices

Asda will set a new national cap of 126.7p per litre for unleaded and 133.7p for diesel at its forecourts, while at Tesco – where prices vary by location – the price of petrol and diesel will drop by up to 2p per litre at all of its forecourts.

The Asda price cap for petrol is the same as the one it announced on both 29 October and 17 December last year, while the price cap on diesel is also the same as the one announced on 29 October (see the Supermarket petrol price cuts MSE News story), demonstrating how prices have risen since those dates.

Remember, tomorrow's price cuts won't necessarily mean these supermarkets' filling stations will be the cheapest. To find the lowest price in your area, use the website Petrolprices.com.

The average price of a litre of unleaded petrol stood at 130.55p yesterday, while a litre of diesel would typically set you back 138.25p, according to the petrol price comparison site.

Morrisons and Sainsbury's have yet to announce plans to cut petrol prices. We'll update this news story if we hear anything.