Asda, Tesco, Morrisons and Sainsbury’s are cutting fuel prices by up to 6p a litre following Chancellor Rishi Sunak’s Spring Statement.
Mr Sunak announced on Wednesday (23 March) that fuel duty on petrol and diesel will be cut by 5p per litre until March 2023.
Figures from data firm Experian Catalist show the average cost of a litre of petrol at UK forecourts on Tuesday was 167.3p, while diesel was 179.7p.
The reduction came into effect at 6pm last night and comes after petrol prices have already increased by 18p per litre for petrol and 27p for diesel in the past month.
However, the timings of these fuel duty cuts could vary as retailers change the prices at the pumps.
Which retailers are slashing fuel duty costs by 6p?
In a statement, Asda said it will pass the 5p a litre drop in fuel duty “straight on to its customers”.
The statement said: “The supermarket will reduce the price at the pumps by 6p per litre which includes a 1p reduction in VAT.
“The new prices will be implemented from this Wednesday evening.
“This means that motorists will see unleaded move back below 160ppl and diesel to 170ppl.”
Tesco will be reducing the price of fuel at their petrol filling stations by 6p, with the new prices rolled out across sites this evening.
The supermarket chain, Morrisons, tweeted: “Following the Chancellor’s announcement, fuel prices at all Morrisons Petrol Station pumps will reduce by 5p per litre from 6 pm tonight.”
Sainsbury’s has confirmed it will be passing on the price reduction to customers and cut the price of a litre by 6p as it includes a 1p reduction in VAT.
The lower price will be available across all of Sainsbury’s 315 forecourts from tonight.
Chief Executive Officer, Simon Roberts, Sainsbury’s, said: “We understand that the cost of living is a real challenge for many households and we are committed to helping our customers as much as we can.
“We welcome the Chancellor’s announcement today which will save motorists money and we are passing the cut to fuel duty to our customers at the pumps across every single one of our 315 forecourts from tonight.”
BP said the 6p saving “will be passed on at the sites we operate in line with the Chancellor’s announcement”.
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