Following the news that the Chancellor has so far held off a price increase on fuel duty, Asda has today (Friday 27th November) announced that it will give its customers a seasonal boost on top of the freeze by investing in an exclusive three-day price drop, knocking 4 pence per litre off fuel, meaning unleaded prices drop below the £1 mark to 99.7 pence per litre.
Asda President & CEO Andy Clarke had urged the Chancellor to continue with the freeze instead of the anticipated yearly fuel duty rises in line with inflation from April 2016. Feedback from Asda Mums indicates that any future increases would put pressure on household finances.
In the latest Mumdex report, complied ahead of the Autumn Statement, Asda mums made it clear what the Government needs to focus on to take pressure off household incomes including, imposing a limit on energy and utility prices and increasing the personal tax allowance, along with a continued freeze on fuel duty.
Asda’s announcement today will be an additional boost for customers in the run-up to the festive season, meaning there’s more left over to spend on the things that matter at this time of year. Effective from Friday 27th November until Sunday 29th November, motorists will benefit from cheaper fuel prices throughout the weekend as unleaded falls to a new record six year low. Asda will revert back on Monday to a market leading price of 103.7ppl on unleaded and 106.7 ppl on diesel.
Asda President and CEO, Andy Clarke said: “The Chancellor’s freeze on fuel duty is what our customers were hoping for but it doesn’t look like it will be long lived. We’re adding a further boost by investing in a three day fuel price drop meaning drivers can now benefit from fuel as low as 99.7ppl in the crucial run-up to the festive period.
“We’d urge the chancellor to continue with a freeze on fuel duty to help maintain discretionary income levels for families rather than going ahead with an anticipated inflationary rise from April next year. Our commitment is to keep prices as low as possible for drivers and we’d ask the Chancellor to do the same”
The latest Asda Income Tracker shows that vehicle fuel inflation has dropped -14.1% compared with this time last year in fact at Asda the price has dropped 20p across the same period, saving a family £14 on a full tank of fuel (*based on a 70 litre tank).
Asda is the only retailer to operate a national price cap and offer drivers the lowest fuel prices nationwide week in, week out. Our average price is up to 6ppl cheaper at the pump than some big petrol retailers.
Our customers don’t have to spend in store to save on fuel as with some competitor deals, our price drops are honest and put money directly back into our customers’ pockets.