Cut-price supermarket wars are on again with Coles slashing the cost of its best-selling grocery product, undercutting efforts from Woolworths and Aldi.

The product in question is in-house branded long life milk, and Coles recently set the lowest mark yet for the product, cutting the cost from 95c per litre to 90c per litre.

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News Corp report the cut won’t be the last in the new battle-front of the often bitter supermarket price wars.

Coles’ cut was engineered to better offerings from bitter competitors Aldi and Woolworths.

The move is reportedly being seen as a deliberate ploy by Coles to drag in for itself a new area of a potentially lucrative market share.

Long-life milk or UHT milk (ultra-high treatment), is surprisingly the most popular product on Coles’ shelves – barring fresh food from the delicatessen, fresh produce and refrigerated or frozen sections.

The price wars in the regular milk category, which began in 2011, saw both retailers extend price sensitive competitiveness into other products like bread.

Coles unveiled $1-a-litre milk and then saw Woolworths quickly match the offer. The ploy came under fire from suppliers, however both chains stood by the decision.

Woolworths and Coles claimed pressure from consumers to provide products as cheap as possible justified the moves.