Petrol Price Cap of 129.9p a Liter by Sainsbury’s

SainsburyA petrol price cap has been introduced by Sainsbury's that will enable motorists to pay not more than 129.9p a liter at its UK forecourts. Similar reductions were also announced by Asda who have operated a price cap that applies to all its UK forecourts and provides motorists with a degree of certainty on prices.

Asda will reduce petrol prices by 3p a liter from Friday 27th September. It will ensure that no motorist will pay more than 128.7p a liter at its 223 petrol stations. Asda will limit diesel prices at 1235.7p a liter.

This is the second price cut Asda has come up with this week. According to reports, oil prices have dropped over the last few weeks and now have gone to a three month low. The prices have fallen from $117a barrel in August to $108 a barrel in September.

Andy Peake, Asda's Petrol Trading Director, said, "Our prices are the lowest they have been all year and our national price cap on fuel benefits everyone across the country".

Peter Williams is the RAC's head of external affairs. He said on Monday that it was waiting to see the drop in prices with decline in wholesale prices that has taken place over the past couple of weeks.