Motorists have welcomed savings at the pumps as fuel prices plummet, unleaded petrol reaching a five-year low.

The four supermarket giants Asda, Morrisons, Sainsbury’s and Tesco have all cut the price of petrol and diesel by 2p per litre.

And some industry experts are predicting the average price of petrol could fall below £1 in the coming weeks following cuts in the price of crude oil.

Yesterday, the cheapest petrol in Swindon was 105.7p of a litre at Harvest in Newport Street and at the Asda stores at West Swindon Shopping Centre and Thamesdown Drive.

All three were offering the cheapest diesel too at 112.7p a litre.

RAC fuel spokesman Simon Williams said the latest cuts in crude prices would further lower the average price of petrol, which is now cheaper than it has been for around five years.

He said: “The cuts are bringing us ever closer to the £1-per-litre average for petrol.

“Of course, it would also be an extremely welcome move for motorists and businesses alike.”

AA president Edmund King said: “Further drops in the pump price are extremely welcome.

“However, small rural towns are again being left behind by the price falls in the more competitive areas.

“This continues to feather the fall in the national average.

“We would love to see £1-per-litre and we may possibly see it in many parts of the UK but it is unlikely that the average price will drop as quickly to the £1 level – partly because 70 per cent of the price is tax.

“There is still a price lottery out there so we advise drivers to shop around.”

The average unleaded price across the UK is now 109.8p a litre, according to the information group Experian Catalist.

The last time it dipped below 110p was on January 3, 2010.