Prices for gasoline and diesel have decreased by more than 10% nationwide.

 

    Photo:AP
  

Average fuel prices across the country have fallen by more than 10 per cent, according to the latest AA Ireland Fuel Survey.

The price of a liter of petrol is now around €1.60 per litre, down 17 cents (-9.8%) from last month and the lowest average price since September 2021.

Currently, a litre of diesel costs on average €1.74. Diesel prices had been rising gradually but have subsequently sharply fallen, falling by 22 cents per litre or 11.3% from November and reaching their lowest level in Ireland since February of last year, when the conflict in Ukraine first broke out.

"The most recent pricing cuts benefit business operators, haulers, and drivers alike. There is no concrete indication of how long these prices will stay, but for the time being, they offer consumers a small reprieve from constantly rising costs, according to Paddy Comyn, Head of Communications for AA Ireland.

Even if diesel is more expensive, the user is still expected to use less of it for the same average 17,000 kilometers driven year, according to calculations by *AA. A diesel automobile will typically travel roughly 850 kilometers on a tank compared to 700 kilometers in gasoline.

The Competition and Consumer Protection Commission (CCPC) stated last month that it had been unable to uncover any proof of coordinated pricing behavior among service stations earlier this year.

The retail motor fuel market was examined by the CCPC, with a focus on the 19-day span between March 2 and March 20 of this year.

It was discovered that rather than a lack of competition, growing foreign costs were what caused price hikes at the pump in the time prior to the duty cut.

The CCPC reported receiving more than 200 complaints from customers who were adversely affected by sharp rises in gas prices. This came after the government announced a 20 cent per litre reduction in gasoline excise and a 15 cent reduction in diesel excise.

The study found that higher international costs, not unlawful price-fixing by stations or a lack of competition, were to blame for consumer price rises during the time before the government's excise cut.