A SUPERMARKET has slashed its fuel prices.

At Morrisons, petrol has been cut by 12p per litre and diesel has seen a reduction of 8p per litre.

The supermarket described the move as “the biggest fuel price reduction in recent times”.

Oil prices have plunged in the past few weeks since Covid-19 took hold across Europe.

They were also heavily dented when Saudi Arabia, which produces around 10% of the world's oil, decided to slash prices and ramp up production in a trade war with Russia.

The price of a barrel of Brent crude oil, the most used measure, has fallen by around 60% since the beginning of the year.

It slipped another 5.7% to 25.53 US dollars per barrel on Monday.

Latest Government figures show the average price for a litre of fuel at UK forecourts on March 16 was 120.3p for petrol and 124.4p for diesel.