// Sainsbury’s and Asda will lower the price of fuel following the Spring Statement
// The grocers will go further than the Chancellor’s fuel 5p per litre cut, by adding an additional 1p VAT reduction
Sainsbury’s and Asda have confirmed they will cut fuel prices by 6p per litre from tonight following the Spring Statement.
Chancellor Rishi Sunak had pledged to cut fuel duty by 5p per litre until next March, however, both Sainsbury’s and Asda said they would add on a 1p reduction in VAT.
The lower prices will be available across both grocers’ forecourts from this evening.
Sainsbury’s chief executive Simon Roberts said: “We understand that the cost of living is a real challenge for many households and we are committed to helping our customers as much as we can.
“We welcome the Chancellor’s announcement today which will save motorists money and we are passing the cut to fuel duty to our customers at the pumps across every single one of our 315 forecourts from tonight.”
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Sainbury’s will lower prices for customers on stock the grocer has already purchased at the higher fuel duty.
The fuel duty cut was one of the measures that Sunak introduced today to help ease rising costs for consumers. The Chancellor also pledged to raise the threshold for National Insurance and lower the basic income tax rate from 20p to 19p by 2024.
Pressure has been building for the government to offer respite to hard-pressed consumers after it emerged today that inflation rose to 6.2%, the fastest rate in 30 years. The rising cost of energy, fuel and food contributed to the rise.
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