Asda cuts petrol prices after criticism

Bloomberg

Asda has slashed the price of petrol after months of criticism that supermarkets have been keeping prices too high.
Asda has knocked 5 pence (6 cents) per liter off the price of unleaded fuel and 3 pence per liter off diesel, the retailer said in an emailed statement.
This brings the price down to on average 174 pence per liter for unleaded and 185 pence per liter for diesel at Asda’s 323 petrol stations across the UK. The supermarket chain already cut prices by 4 pence per litre, it said.
British retailers have recently been criticised for not passing on declines in the wholesale petrol market. Earlier this month UK motoring groups piled more pressure on the supermarkets, calling their prices “artificially high”. Soaring fuel prices are part of a broader cost of living crisis for many UK consumers who are also adapting their grocery shopping habits to save the pennies.
The UK’s antitrust watchdog began an in-depth review into the nation’s petrol prices earlier this month, saying there have been recent signs that the “retailer spread” — the gap between what they pay wholesale and what they charge motorists — has stayed elevated in recent times.