Supermarkets slash petrol prices

Asda and Tesco have cut the price of petrol at the pump by up to 4p a litre. The reductions are the first substantial cuts since fuel costs were raised in the run up to this week’s largely ineffectual fuel protests and since the price hikes caused by Hurricane Katrina. It also follows a rush of panic buying earlier this week when prices were soaring.

Asda has cut petrol by 4p to 89.9p per litre and diesel to 92.9p per litre at its 158 filling stations. Asda’s general merchandise director, Tony Page, said: “Drivers have been ripped off in the past 10 days as drivers rushed to fill up.”

He added he was “shocked” at some of the prices he had seen elseware. “Here at Asda we think our customers deserve better than to be treated like that,” he added.

Tesco have also cut prices by up to 4p per litre. A spokeswoman for the company said “The price of petrol has fallen and we are passing those savings back to shoppers as soon as we can.” She added that Tesco “won’t be beaten on price in any location”.

Today is the last of three days of muted demonstrations by the Fuel Lobby, which has called on the government to cut fuel tax. Fuel protesters in Wales plan to travel at 20mph along the M4. Police have moved to limit disruption by serving the convoy of lorries, coaches and taxis with a notice from the Public Order Act. They have to travel a minimum of 40mph and keep in the slow lane.