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Supermarkets slash petrol prices

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Petrol prices have been cut to 94.9p per litre by supermarket giants Asda and Sainsbury in the latest move in their ongoing price war.

Asda has also reduced diesel to 107.9p, and has pledged to freeze the new prices at all its 172 forecourts for 10 days, regardless of changes in the price of oil.

Sainsbury announced a promotion by which customers can receive an extra 5p off a litre of fuel when they spend £50 in store, leading to a potential total price drop of 8p to 89.9p.

The last time petrol was 94.9p at Asda was October 2007, and the supermarket said this latest announcement marks the third time it has cut its petrol prices in a fortnight.

The company's trading director, Darren Blackhurst, said: "We are giving drivers some certainty in these uncertain times.

"With world oil prices set to jump around over the next few weeks, we are guaranteeing to freeze prices at the pumps for at least the next 10 days.

"It's simply not acceptable for anyone to be paying more than £1 for a litre of petrol, no matter where they live in the UK. If they are, they're being ripped off while petrol retailers pocket the profit."

© The Press Association 2008