FUEL PRICES FELL again for the second month in a row, marking the lowest prices drivers have seen since September 2021, according to AA Ireland.

A recent survey conducted by the roadside assistance company said the price for both petrol and diesel fell by 2.6% and 1.2% respectively, compared to April 2023.

The price of both fuels now stands at its lowest since September 2021, with the average price of diesel at €1.47 per litre and petrol standing at an average of €1.57 per litre.

The highest recorded prices by the AA’s monthly survey saw petrol prices average €2.13 per litre and diesel average €2.05 per litre in June 2022

Rates have fallen steadily since the peak however the AA reminded drivers of a slight increase by six cents per litre for petrol and five cents per litre for diesel at the beginning of next month.

AA Ireland’s Head of Communications Paddy Comyn said: “Prices continue to shrink across the country in May for both petrol and diesel, but the start of the reintroduction of excise duty will increase petrol by 6 cents per litre and diesel by 5 cents per litre on June 1st, with more to follow.”

Comyn added that if the current fuel prices remain unchanged, the reintroduction of the duties will see an increase in cost of petrol by 3.8% and diesel by 3.4%.

Government will increase prices again on 1 September 2023, after the initial increase next month, according to the AA. The Government will fully restore the rates on the 31st of October with a final increase of 8 cents for petrol and 6 cents for diesel.

“We have known about it for some time, but it will come as another unwelcome increase for motorists after enjoying a period of reasonably stable prices,” Comyn said.

Electric vehicle (EV) drivers saw a small drop in prices (€7.09) as the average EV driver is paying €1,131.04 this month, compared to €1,138.13 in April.

AA Ireland said EV drivers “anxiously await” a larger drop in prices, however the company say volatility in markets and more long-term hedging means it could take some time before a substantial drop.

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