Fuel strike: Tesco and Asda cut petrol prices by 2p per litre

Two leading supermarkets cut their petrol prices today.

Tesco and Asda both cut their prices by 2p per litre.

A Tesco spokesman said that prices would vary in different parts of the country, but the lowest price would be 137.9p per litre and the highest would be 140.9p

The AA has said prices could fall by as much as 5p a litre over the next fortnight and called on retailers to start cutting “as soon as possible”.

A Morrison spokesman said: “We’re still looking at the numbers, there’s no decision as yet.”

Before the cuts, the average pump price for petrol stood at a record 142.88p a litre, a 10.23p surge since the start of the year.

Prices are set to rise by 3.6p a litre in August when the Government’s next duty hike comes into effect.

AA spokesman Luke Bosdet said: “When you have your average family spending more on filling up than they spend in a week on food, prices need to come down as quickly as possible.

“If the wholesale petrol price holds or continues to crash, the UK pump prices should fall at least 4p in the next fortnight. With VAT that rises to 5p.”

Fresh talks between union representatives and hauliers are due to take place at the conciliation service Acas on Monday, aimed at averting a strike.

The latest offer from the seven haulage firms was overwhelmingly rejected by the unions last week, bringing the threat of a walkout closer, although no strike dates have been set as yet.

The wholesale price of petrol has fallen by about seven per cent to $1,133 a tonne in a week, over concerns about the global economy.