Asda was the first to announce the cut, which takes force across its 319 forecourts.
As Asda has a national price cap, it means unleaded will cost no more than 116.7p a litre, while diesel will be capped at 127.7p a litre.
Asda says the cuts follow a continuing fall in wholesale costs – which is the price it pays for fuel before selling it on.
The supermarket adds that it's the fifth price drop it's announced since October 26 and that unleaded has fallen by 11p a litre over this period, while diesel has fallen by 7p a litre.
Sainsbury's and Tesco were quick to follow in Asda's footsteps. Both retailers will drop unleaded and diesel prices by up to 2p a litre at their 314 and 507 forecourts respectively.
Morrisons is also chopping a further 2p per litre at its stations, on top of its 10p a litre off fuel announced earlier this week.
Ways to cut down on your fuel costs
- Accelerate gradually without over-revving
- Always drive on the highest possible gear
- If you can, allow your car to slow down naturally as your brake is a money burner
- Re-starting your car is expensive, if you can keep moving
But RAC fuel spokesperson, Simon Williams, says some supermarkets are dropping prices by enough.
He said: “This is yet more good news for motorists but despite Asda cutting its prices regularly the other supermarkets are sadly lagging way behind.
"There is often talk of a supermarket price war over fuel, but this couldn’t be further from the truth at the moment.
“The sad reality for drivers is that the majority of fuel retailers are taking advantage of the falling wholesale price by pocketing the savings instead of passing them on at the pumps.
“The current UK average price of petrol is 125.43p and 134.41p for diesel. RAC Fuel Watch data shows that this should be at least 8p lower for unleaded and 6p lower for diesel."
Only last week, Asda, Morrisons, Sainsbury’s and Tesco cut fuel by up to 2p per litre in the latest supermarket pump price war.
Luckily for motorists, Chancellor Philip Hammond ditched a planned 2p-a-litre rise in fuel duty in last month's Budget.
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