Asda said that drivers filling up at its forecourts from tomorrow will pay no more than 126.7p a litre for petrol, with diesel priced at 133.7p.
Jeremy Walton, head of petrol trading at Asda, said: "Our shoppers don't have to figure out complicated deals and collect vouchers to get the best price, they simply pay what they see at the pump.
"No one is unfairly penalised for not spending enough or forced to spend more than they wanted to. Everyone can save money with our price cuts.
"Our prices are the lowest they have been all year and our national price cap on fuel means that no one filling up at Asda is forced to pay a premium for their fuel because of where they live."