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AA Fuel Price Survey - November 2023

Published 24th November 2023Read Time 3 min

๐—”๐—” ๐—œ๐—ฟ๐—ฒ๐—น๐—ฎ๐—ป๐—ฑ ๐—™๐˜‚๐—ฒ๐—น ๐—ฃ๐—ฟ๐—ถ๐—ฐ๐—ฒ ๐—ฆ๐˜‚๐—ฟ๐˜ƒ๐—ฒ๐˜† ๐˜€๐—ต๐—ผ๐˜„๐˜€ ๐Ÿฎ๐—ป๐—ฑ ๐—บ๐—ผ๐—ป๐˜๐—ต๐—น๐˜† ๐—ฑ๐—ฟ๐—ผ๐—ฝ ๐—ณ๐—ผ๐—ฟ ๐—ฃ๐—ฒ๐˜๐—ฟ๐—ผ๐—น, ๐——๐—ถ๐—ฒ๐˜€๐—ฒ๐—น

Petrol, Diesel both fall 3c per litre month-on-month.,Crude oil drops to circa $80 per barrel, Electric Vehicle charging costs fall slightly.

Our latest monthly Fuel Price Survey has shown another slight drop in Petrol and Diesel prices over the last month. Petrol is down from โ‚ฌ1.83 per litre in October to โ‚ฌ1.80. Diesel has also fallen by 3c per litre, from โ‚ฌ1.84 to โ‚ฌ1.81 in November.

Blake Boland, Head of Communications for the AA Ireland said that โ€œthis is the second month in a row that fuel prices have dropped. Having seen dramatic rises in fuel prices from lows of โ‚ฌ1.47 for Diesel in May, motorists will be relieved to see prices coming down slightly again in November. There was a worry that we would see the โ‚ฌ2.00 per litre mark being hit this year. Thankfully, this has not materialised and looks unlikely to happen.โ€

The government delayed the Excise Duty restorations that were due last month until well into 2024. In addition, the price of crude oil eased from highs of $94 per barrel in September to $78 per barrel in the middle of November. It currently sits at $81 per barrel. The addition of nearly 3c per litre due to the increased Carbon Tax in the last budget prevented prices dropping even further.

You can save 3c per litre off Petrol and Diesel at participating Circle K forecourts. Just click on the link here to download the AA app. Just open the app and swipe your code at the counter to get your 3c off!

Blake Boland added that โ€œwith continuing unrest in the Middle East, markets remain uneasy and itโ€™s far from certain that prices will remain stable. However, stocks being delivered to forecourts this week suggest that prices will be slightly lower again as we approach the end of November, with many people around the country paying below โ‚ฌ1.80 per litre for both Petrol and Diesel.

๐—˜๐—น๐—ฒ๐—ฐ๐˜๐—ฟ๐—ถ๐—ฐ ๐—ฉ๐—ฒ๐—ต๐—ถ๐—ฐ๐—น๐—ฒ ๐—ณ๐˜‚๐—ฒ๐—น๐—น๐—ถ๐—ป๐—ด ๐—ฑ๐—ฟ๐—ผ๐—ฝ๐˜€ ๐˜€๐—น๐—ถ๐—ด๐—ต๐˜๐—น๐˜† ๐—ฎ๐—ด๐—ฎ๐—ถ๐—ป

The cost of fuelling an Electric Vehicle has dropped slightly again in November. Electricity prices sky-rocketed following the Ukraine invasion. Although they remain quite elevated, October saw a significant price drop. Novemberโ€™s survey shows a smaller, but very welcome reduction.

The average EV driver is now paying โ‚ฌ978 per year to fuel their vehicle, down from โ‚ฌ1,017 the previous month. This compares favourably with a similarly sized Diesel equivalent that will cost โ‚ฌ2,154 to cover the same distance of 17,000km per year.

Mr Boland added that โ€œEV drivers need to be savvy in choosing how they charge up. Those taking advantage of cheap night rates could see their annual fuel bill to cover that 17,000kms being as low as โ‚ฌ300 per year. There are significant savings to be made.โ€

If youโ€™re buying an EV or need to renew your insurance, why donโ€™t you get a quote from us here? We have dedicated EV insurance to give you peace of mind.