Motor insurance policyholders will soon benefit from reduced fuel costs, as a leading supermarket chain has announced a petrol price-drop.

From tomorrow, Asda will lower the price of its unleaded petrol by two pence per litre to 115.9 pence, while diesel will fall by one penny to 118.9 pence per litre.

David Miles, commercial director for the company, said that by sparking a possible fuel war with other fuel providers, the chain was simply reflecting the recent fall in wholesale prices.

He said: “Yet again, Asda is leading the UK fuel prices down. Motorists will be relieved commodity prices are coming down and as always we are the first to reflect the falling costs in our prices at the pump.”

Asda’s announcement came after motoring association the AA criticised major oil companies and supermarkets for failing to pass savings on to the consumer.

These latest reductions are thought to be the first price cuts at the petrol pumps in almost three months.

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