AA Ireland’s latest fuel price analysis shows a welcome reduction in pump prices during May following recent Government measures aimed at easing pressure on motorists and businesses. However, despite month-on-month reductions, fuel costs remain significantly higher than levels seen earlier this year and continue to impact household budgets.
Diesel prices have fallen to an average of €1.97 per litre in May, down 17 cents from April’s average. Petrol prices averaged €1.82 per litre in May, down 9 cents month-on-month.
Meanwhile, EV charging rates remain broadly stable compared to April, continuing to provide motorists with more predictable running costs in contrast to fluctuating fuel prices.
Key changes from April to May:
- Diesel: €1.97 per litre on average in May (down 17 cents from €2.14 in April)
- Petrol: €1.82 per litre on average in May (down 9 cents from €1.91 in April)
- EV charging: Home and PAYG public charging prices remain stable month-on-month
An AA Ireland spokesperson said:
“Motorists will welcome some easing in fuel prices this month, particularly with diesel falling back below the €2 per litre mark. While this is a positive development, prices remain elevated compared to the beginning of the year and many drivers are still feeling the impact of higher transport costs.”
“The Government’s intervention has helped ease some of the immediate pressure, but global oil markets remain unpredictable. Any escalation in geopolitical tensions or further volatility in crude oil prices could quickly reverse these recent reductions.”
AA Ireland notes that fuel prices continue to be heavily influenced by global market conditions, including oil supply concerns, geopolitical instability and currency fluctuations. Although prices at the pump softened in May, Brent crude oil prices remain volatile and further movement at the pumps is possible in the coming weeks.
EV Costs Continue to Offer Stability
In contrast to fluctuating petrol and diesel prices, EV charging costs have remained relatively stable again this month. AA Ireland says this continues to highlight the longer-term cost predictability associated with electric vehicle ownership, particularly for drivers primarily charging at home on night-rate electricity plans.
Vehicle Maintenance Plays an Important Role
AA Ireland is also reminding motorists that regular vehicle maintenance can improve fuel efficiency and reduce running costs. “Simple checks such as maintaining correct tyre pressure, servicing the vehicle regularly and replacing worn air filters can all help improve efficiency,” the spokesperson said. “Keeping a vehicle properly maintained not only improves safety but can also make a noticeable difference to fuel consumption over time.”
