Asda and Morrisons cut petrol price below £1 per litre

Asda and Morrisons have cut the price of petrol to under £1 a litre, the lowest price it has been since 2009.

Unleaded petrol is 99.7p per litre at Asda until December 13, while Morrisons has cut it to 99.9p and aims to keep it at that level “for as long as possible” subject to changes in the oil and currency markets.

Asda said the second cut in a week will bring some “festive cheer for drivers”.

“We received strong feedback from customers when we cut fuel below £1 in November who said they benefitted from the weekend price cut and would welcome something similar,” the company said in a blog post on Thursday.

Morrisons' petrol retail director Bryan Burger said it is the first time in more than six years that the price of petrol has dipped below £1.

"This is a moment where motorists will feel some relief after being clobbered by tax and price rises for the last decade."

Tesco has since followed suit, announcing on Friday morning that from midday it will lower the price of petrol to 99.9p per litre.