According to the latest AA fuel prices survey, fuel prices remain relatively steady across the country. The average petrol price across the state is €1.65, 2.5% more than in January 2023. Diesel fuel has dropped slightly, with the average at €1.68, 1.7% less than in January 2023. The average petrol driver now spends around €2,003 per year on fuel*, the average diesel buyer €1,680 and the average EV driver €1,306** (on electricity), meaning EV driving costs around 34% less than running an equivalent petrol vehicle when it comes to fuelling.
The latest prices remain pretty stable, despite introducing an EU-wide ban on importing Russian oil products, which came into effect on February 5th. The government is also due to end a reduction on duty on petrol and diesel at the end of February.
Staggered excise duty increases
The proposed cessation of the excise duty on petrol and diesel at the end of February will increase fuel prices by 15 cents per litre for diesel and 20 cents per litre for petrol. The AA Ireland called for this increase to be staggered to avoid difficulties at fuel stations. There is to be a staggered increase in the excise duty on petrol and diesel to their previous levels. Petrol will increase by 6 cents per litre on 1 June, 7 cents on 1 September and 8 cents on 31 October, an overall increase of 21 cents. Diesel will increase by 2 cents per litre on 1 March, 5 cents on 1 June, 5 cents on 1 September, and 6 cents on 31 October, an overall increase of 18 cents.
*AA calculates a diesel car will travel, on average, around 850km on a tank vs 700km in petrol, which is why even though diesel is more expensive, the consumer is still likely to use less of it for the same average 17,000km per year.
**The average fuel price for EVs is calculated based on Ireland's best-selling EV in Ireland in 2022, the Volkswagen iD.4. They use a real-world expectation of a 410km range from its 77kWh battery.
Electricity prices are a blended average of 3 forms of regular charging; 1) Public Fast Chargers, 2) Domestic Chargers on a standard meter, and 3) Domestic night-rate plans for EVs. The AA use up-to-date prices from at least two providers in each category.
The average price favours domestic charging, which is the most popular. It does not factor in free charging from roof-top solar or at work.
AA Ireland Members can avail of 3 cents off a litre from Circle K via the AA Ireland App.