Supermarket chain Asda has halted the ever-increasing cost of fuel for now. The supermarket chain cut the price of petrol by 2p per litre and diesel by 1p per litre. That puts prices at 115.9p for unleaded and 118.9p for diesel. The cuts come after weeks of record highs and follow claims from the Automobile Association that retailers weren’t lowering prices quickly enough when wholesale prices for oil had fallen.

The move prompted a quick response from other supermarkets and major fuel retailers and within hours Shell had reduced petrol and diesel prices by 2p per litre. Morrisons and Tescos weighed in quickly, too, with fuel cuts, while Sainsbury’s is expected to follow.

Tesco matched Asda’s reductions at its 450 filling stations and is also offering a further discount of 5p per litre for shoppers who hold Clubcards.

Average prices for petrol across the country earlier this week stood at 121.5p for unleaded and 123.5p, according to price monitoring site But you could pay as much as 131.9p and 133.9p respectively.

The cheapest fuel available cost 117.9p and 118.9p – but these figures were recorded before Asda’s move.