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Tuesday 25 July 2017

Hope for motorists as price of fuel to drop

Grainne Cunningham

FUEL prices remain high despite falls in the cost of crude oil, the AA said yesterday.

But there is a glimmer of hope on the horizon for motorists, according to AA spokesman Conor Faughnan, who predicted that petrol and diesel will drop slightly in the coming days.

"We believe it has already started to happen," he said. The AA's August survey of fuel prices did not show a drop, with petrol costing an average of 151.9 cent a litre and diesel 143.6 cent a litre, up 2.6c and 2.5c respectively on the average figures for July.

But Mr Faughnan said that "anecdotally and observationally, prices are starting to fall by a couple of cent".

He said he had spoken to a number of sources within the industry and "that was their experience as well".

Mr Faughnan said even a slight reduction would come as a welcome relief for drivers who are currently paying 12-13pc more for their fuel than they were 12 months ago.

Irish Independent

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