Two major supermarkets have dropped the price of fuel in response to falling oil prices.

Asda announced that from today (Wednesday, January 29), it will cut the price of fuel by up to 3p per litre.

And Sainsbury's announced it will be reducing prices from Friday, inews reports.

This means drivers filling up at any of Asda's 322 stations will pay no more than 120.7ppl on unleaded and 124.7ppl on diesel.

Asda senior fuel buyer Dave Tyrer said: "We’re pleased to be dropping fuel prices for the first time this year. January has been a tough month for motorists so we’re glad to be dropping the cost in line with falling wholesale markets. We will continue to put the savings straight back into drivers pockets without any vouchering requirements meaning all our customers, regardless of their budget, will benefit from a price cut at the pumps."

Luke Bosdet, the AA’s fuel price spokesman, said: “Average UK petrol and diesel pump prices have been at their highest for a January since 2014 and, despite wholesale costs declining over the past two to three weeks, they have stayed stubbornly above 128p a litre for petrol and 132.5p for diesel.

“This new price cut is in line with wholesale petrol falling from an average of 39.4p a litre in early January to the 37.0p between Wednesday and Friday last week. Sadly, only communities with an Asda fuel presence are likely to enjoy £1.50 being slashed off the cost of a tank of fuel overnight.

“Instead, two other major supermarkets have gone back down the fuel voucher route, tying savings of 5p a litre to spends of £40-£50. Once again, if you’re on a low income and your spending power isn’t up to it, you miss out. Given the time of year with customers trying to pay off Christmas debts and fuel costs falling dramatically, that discrimination is quite simply mean.”