Relief for motorists as fuel prices drop by 10.5% on average

The average price of a litre of petrol now costs €1.60.

Fuel prices have dropped by more than 10% across the country, marking the lowest average price for petrol since September 2021.

The average price of a litre of petrol now costs €1.60, which is a reduction of 17c in comparison to last month’s average price, offering respite for motorists as they enter the festive period.

The average cost of a litre of diesel now comes to €1.74, a figure which has also dropped dramatically, falling to 22c from last month.

Diesel prices had been steadily rising since February 2022, marking the beginning of the war in Ukraine.

This month’s prices from the AA Ireland Fuel Survey have been the lowest price recorded in Ireland since the war began.

Last summer, fuel prices reached “record levels” when petrol overtook diesel as the most expensive fuel. Petrol prices rose above €2 per litre, with some filling stations charging as much as €2.15. The average price for diesel was around €1.95 per litre.

However, this reverted in October with motorists driving diesel cars spending up to 20c per litre more than those driving petrol cars.

AA Ireland’s Head of Communications Paddy Comyn said the fall in prices is likely to offer some respite for motorists. 

“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.”