It’s now over 20c per litre cheaper for petrol and diesel than it was at the start of the year.
Fuel prices have continued on their downward trend over the past month, despite an increase in both crude oil prices and nationwide traffic levels.
The latest fuel price study from AA has shown that fuel prices have fallen to their lowest level since March 2016.
On average in Ireland, a litre of petrol now costs 121.8c, a drop of almost 2c since last month’s average price and significantly down from the 144.5c price at the start of the year.
Meanwhile, diesel prices have also continued to fall, dropping by 1.6c on average to a current price of 113.9c, another significant drop from the 135.9c per litre it cost at the start of the year.
“Reduced capacity on public transport may mean that some are more reliant on the private car than they were pre-Covid and lower fuel prices is a positive for those who need the car to commute to work or assist elderly relatives currently,” Conor Faughnan, AA Director of Consumer Affairs said.
Faughnan added that their data showed that on a number of routes, traffic levels had increased by over 100% since the first week of lockdown.
While crude oil prices are trending slowly upward, they’re still well below pre-Covid levels.
“With global demand for fuel and oil now starting to increase as many countries continue to ease their Covid-19 restrictions, it comes as no surprise that crude oil prices are starting to increase. Despite this, prices at the pump remain low, but for how long remains unclear,” Faughnan said.
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