Petrol prices set to drop

According to the latest fuel price survey from AA Ireland prices at the pumps decreased slightly during the past month.

petrol gauge

Hard pressed motorists in Ireland could receive a good boost over the coming weeks as the prices of petrol and diesel are on course to drop by 4c per litre.

Prices at the pumps have hardly moved over the last 12 months and the current average price in Ireland is €1.56. This drop could mean prices at the pumps would be sub €1.50.

Other factors affecting the price of fuel include exchange rates and conflict in oil suppling countries such as Libya or Iraq.

Competition is also a factor as people shop around for the best prices.

Alex Todd Brand Manager at Its4women commented "This is great news for the Irish consumer as the price of a barrel of oil costs in the region of $102 and the industry is expecting a prices drop of up to 10c. Technically this should mean that the price of petrol and diesel should drop by a corresponding amount but some garages may be slow to react to the new market conditions."

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