New figures from AA Ireland show that fuel prices at the pumps fell in June as the cost of crude oil was lower.
The AA Ireland’s latest monthly Fuel Price Survey shows that average petrol prices fell by four cent a litre to €1.79, while diesel dropped five cent a litre to €1.71.
It noted that crude oil prices are standing at round $83 per barrel this month.
Jennifer Kilduff, Head of Marketing & PR for AA Ireland, said the early part of the year saw significant volatility in fuel prices mainly due to unplanned refinery outages in Europe and strikes on Russian refineries.
“Recently, reduced tensions and attacks have led to a softening of prices. Weaker demand in the US has resulted in high fuel stock levels amid increased production, and delays in interest rate cuts by US banks have also contributed to lower international fuel prices,” she added.
Ms Kilduff noted that another reinstatement of excise duty is still set for August 1, along with a carbon tax increase in October.
Meanwhile, today’s survey show that electric vehicle owners can expect to pay an average of €946 a year to cover the national average of 17,000 km a year.