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Sharp Drop in Fuel Prices Sharp Drop in Fuel Prices

AA Monthly Fuel Index

Sharp Drop in Fuel Prices

Published 16th August 2016Read Time 2 min

Average fuel prices in Ireland have fallen for the third month in a row, reaching their lowest level since April 2016.

A litre of petrol now costs an average of 127.5c, down 3.8c, with diesel prices dropping by 2.3c,according to the AA’s survey of national fuel prices.
Falling pump prices are partly the result of a recent drop in the cost of oil, which now sits at €45.54 compared to a high of €49 in mid-July.
“We are always pleased to see the price come down as it effects all of us.” Says Director of consumer affairs Conor Faughnan. “It has been an up-and-down year for fuel but the last few months have seen it move in the right direction.”
The AA points out the bigger problem is the amount of tax charged.
“A litre of petrol actually costs about 40 cents.” Says Faughnan. “Everything else is tax.”
The AA report finds that drivers operating a car which uses 150 litres of petrol per month can now expect to save an average of €5.70 compared to their spend in July. A typical Irish motorist is now spending approximately €191.25 per month on fuel.
To see a full breakdown of this month’s fuel prices, please click here.