Major supermarkets cut petrol prices from new year

Four of the UK's major supermarkets are cutting the price of fuel from 1 January 2015 to take the price of petrol to a five-year low.

Asda, Morrisons, Sainsbury's and Tesco are taking 2p per litre off petrol and diesel.

The fall in the price of crude oil globally had prompted calls for consumers to see a reduction in the price paid at the pump.

Economics correspondent Andy Verity reports.