THE AVERAGE PRICE of fuel has dropped by more than 10% across the country, according to the latest AA Ireland Fuel Survey.
The price of a litre of petrol is now around €1.60 per litre, a 17 cents (-9.8%) drop since last month and the lowest average price for petrol since September 2021.
The average price for a litre of diesel is now €1.74. Diesel prices had been steadily increasing but have now dropped significantly, decreasing by 22 cents per litre or 11.3% compared to November and the lowest price recorded in Ireland for diesel since February of this year, the same month that the war began in Ukraine back in February.
“These latest price reductions come at a good time for motorists, hauliers and commercial operators alike. There is no firm indication on how long these prices will last, but for now, they give consumers some slight respite against ever-increasing prices,” said AA Ireland’s Head of Communications, Paddy Comyn.
*AA calculates a diesel car will travel, on average, around 850km on a tank vs 700km in petrol, which is why even though diesel is more expensive, the consumer is still likely to use less of it for the same average 17,000km per year.”
Last month, the Competition and Consumer Protection Commission (CCPC) said it could find no evidence of co-ordinated pricing behaviour among service stations earlier this year.
The CCPC conducted an analysis of the retail motor fuel sector with particular focus on the 19-day period between 2 and 20 March of this year.
It found that rising international prices drove increases in prices at the pump in the period leading up to the excise cut rather than a lack of competition.
The CCPC said it received over 200 complaints by consumers who were impacted by significant increases in fuel prices at the pump. This was after the Government announced that excise on petrol would be dropped 20 cent per litre and diesel by 15 cent.
The research showed that increased international prices were behind price increases for consumers in the period leading up to the Government’s excise cut, rather than stations illegally coordinating their prices or a lack of competition.
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