At most of the petrol stations, a decline by 2 cents has been witnessed in the price of petrol due to a fall in the world oil prices. Yesterday, at 2 pm, a round of cutting prices had begun by the New Zealand-owned Company Greenstone, which controls the Shell-branded petrol stations.

At most of the Shell stations, the cost of a liter of 91-octane petrol will now be 175.9c. This decrease in the oil prices has come up after the exchange rates had weakened a few days before, which also weakened the rate of fuel in the global market.

This cutting of price was followed by Asda, which yesterday knocked off 1p from a liter of unleaded and 2p from the price of its diesel. This is how it entered the world war of fuel prices. By this, unleaded petrol, as compared to the national average of 116.5p, and at its 180 UK forecourts, will now be available at 111.9p.

Also, diesel will be available at 114.9p as compared to 119.2p. These price cuts by Asda threatened Sainsbury’s prices, and hence, to give a competition the latter also announced the same cut in ‘certain areas’.

Rac Motoring Strategist Adrian Tink said, “It's good to see another drop in the currently sky-high petrol prices and we hope other fuel retailers will follow suit”.