Asda cuts fuel prices by 2p per litre on petrol and 1p on diesel

New national price cap means drivers will pay no more than 103.7ppl on unleaded and 106.7ppl across its 273 filling stations– including nine in Northern Ireland.

“Asda today (Monday 26th October) once again led on reducing the price of fuel by up to 2 pence per litre on Unleaded and 1 pence per litre on diesel with the retailer also calling on the Government to maintain its freeze on fuel duty in next month’s autumn statement,” said the retail giant.

“Asda’s October Income Tracker showed that falling fuel costs, along with falling food costs, continue to be one of the main drivers behind the rise in discretionary income (the money left over once essentials like bills, food and housing have been paid for).

“The report shows that inflation on vehicle fuel is down by -14% compared with the same period last year and when the national picture is broken down, the falling cost of fuel and food is even more central to boosting household spending power in regions such as Northern Ireland, Scotland and the North East of England, and a rise in fuel duty would hit families in these regions hardest.

“Northern Ireland has one of the strongest car economies in the UK and as a result households spend an average of £35 a week on fuel (way above the UK average of £24 a week) – so benefits the most of any other region in the UK when the prices of vehicle fuel fall.

“With this in mind Asda is urging the Chancellor George Osborne to maintain the freeze in order to keep lowering the cost of driving for motorists. A rise in fuel duty would come at the worst possible time for customers as we approach the festive season.

Andy Clarke, Asda’s President & CEO said: “There are undoubtedly green shoots at a macroeconomic level and our customers are cautiously optimistic which is why they continue to save, particularly at this time of year. With this in mind, we urge the chancellor to continue with a freeze on fuel duty in the Autumn Statement to avoid putting more pressure on family budgets.”