The price of Stella has hit an all-time festive low at 12p per 100ml in Asda.
In comparison, the lowest price recorded last year was 15p, according to The Grocer’s Christmas Pricewatch 2004.
The low price this year is driven by Asda’s offer of two packs of 20 x 330ml bottles for £16.
Beer prices have yet to hit the level of the controversial low this summer, when Somerfield offered any two packs of 20 cans of Carling, 20 bottles of Stella or 24 bottles of Carlsberg Export for £14.
It was then believed to be the lowest ever price promotion recorded in retail.
At the time, Keith Hogg, managing director of sales for Scottish Courage Brands, complained that extreme discounting by retailers ran contrary to efforts by some brewers to raise prices in order to fund innovation and boost the image of lager.