According to the AA’s analysis, the national average cost of a litre of petrol currently sits at 146.1c, up almost 4c from an average price of 142.3c last month.

Royal Dutch Shell reported a small drop in first quarter profit to $5.4bn (€4.8bn), but still easily beat forecasts, helped by stronger trading and liquefied natural gas earnings.

Petrol has risen by 2c in the past month with the average price across the country being 136.2c.

BP has joined its big-oil peers by giving investors a positive surprise, exceeding profit estimates and earning better returns than its closest European rival.

Petrol prices have hit their lowest point for 16 months, which should please motorists.

A monthly survey of fuel prices by the AA has found that the average cost of a litre of petrol has hit its lowest level since August 2017.

The discount is being introduced to spread Christmas cheer, the company says.

AA Ireland is welcoming the slight drop in the cost of fuel for the first time in more than three months.

There has been a call for the government to reduce the emergency tax put on fuel during austerity.