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Asda slashes fuel price to below £1 for the first time in six years

Published: 22:11 27 Nov 2015 AEDT

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The deal announced today runs for three days and coincides with the weekend shopping bonanza.

Asda has slashed its petrol price to below £1 for the first time in six years, despite stating it would not take part in this year’s ‘Black Friday’ sales promotion.

A litre of unleaded petrol fell by 4p to 99.7p, the first time it has dipped below £1 since 2009, while diesel will cost 103.7p from 106.7p.

Last month, Asda said it would not take part in the Black Friday event, despite being the first company to introduce it to the UK, but the deal announced today runs for three days and coincides with the weekend shopping bonanza.

Earlier this week, Chancellor George Osborne announced in his Autumn Statement that the freeze on fuel duty would remain in place.

"The Chancellor’s freeze on fuel duty is what our customers were hoping for," Andy Clarke, Asda's president and chief executive, said.

"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 99.7p per litre in the crucial run-up to the festive period."

The Walmart-owned store cited “shopper fatigue” as the reason it would boycott Black Friday markdowns, adding that after a survey of customers it would spend £26mln to reduce its prices throughout the season, rather than on just one day.

Last year, Asda was one of a number of stores highlighted as shoppers fought in stores to get the best bargains.

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