Fuel prices in Ireland have decreased, offering some relief to drivers. According to the AA Fuel Price Survey’s June report, petrol prices have dropped by an average of 4 cents per liter, while diesel prices have fallen by 5 cents per liter. This brings the average price of petrol to 1.79 euros per liter and diesel to 1.71 euros per liter.
The decline in global crude oil prices, now at 83 dollars per barrel, is a significant factor in this reduction. This drop comes as a welcome change following recent fuel price increases due to the reintroduction of excise duty in Ireland.
However, this relief may be short-lived. From August 1, the second phase of the excise duty restoration will come into effect, leading to higher fuel prices. Additionally, a carbon tax increase scheduled for October will further raise costs at the pump.
For now, motorists can enjoy the temporary decrease in fuel prices, though future hikes are on the horizon.