MOTORISTS have been given some welcome news in the form of petrol price cuts.

From today, Asda and Sainsbury's are cutting petrol and diesel by up to 2p a litre.

In Asda's case, the ­reduction means its ­customers will pay no more than 126.7p a litre for petrol, with diesel being 129.7p a litre - its lowest price since January 2011.

Loading article content

RAC spokesman Simon Williams said: "The strengthening pound and the fact that tensions in both Ukraine and Iraq have not caused supply issues means prices have begun to ease.

"The impact of shale oil extraction in the US is also causing global oil prices to reduce due to more product becoming available which in turn reduces reliance on Middle East imports."