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Wednesday 13 December 2017

Driver misery as petrol price reductions fail to materialise

Aideen Sheehan Consumer Correspondent

PROMISED petrol price cuts have failed to materialise around the country, with some forecourts actually increasing their prices.

The Irish Petrol Retail Association (IPRA) claimed last Friday that drivers would see petrol price reductions starting from the weekend as wholesale price cuts were passed on.

But a survey by the Irish Independent has found that prices at many stations remain the same and some have even risen.

The IPRA blamed the continued high prices on a resurgence in world oil prices this week, leading to wholesale prices rising again on Tuesday and yesterday.

"There was a brief window when wholesale prices fell last Friday, but they have risen again this week, so unless a station took in fresh supplies on Saturday or Monday, they might not have got the lower prices," said IPRA chief executive Michael Griffin.

The wholesale petrol price rose 1.5c plus VAT this week, cancelling out last week's fall -- though diesel was down marginally, he said.

Price monitoring website, which keeps tabs on prices nationwide via driver updates, said their figures showed the average price of petrol nationwide had actually risen from €1.529 last week to €1.549 yesterday, although diesel has fallen from €1.479 to €1.469 on average.

The Irish Independent survey found prices had increased at some stations since a previous survey early last week.

The Applegreen station on the M4 westbound at Enfield, Co Kildare, had increased its petrol price by 1c to €1.518, though its diesel price was down by 2c to €1.428.

A Texaco station in Douglas, Cork, has raised its petrol price by 2c to €1.569 and cut its diesel price by 1c to €1.469 since last week.


Texaco on Merrion Road, Dublin 4, kept its prices unchanged at €1.549 for petrol and €1.479 for diesel.

However, drivers can avail of some price reductions with, for example, the already keenly priced Amber station in Dungarvan, Co Waterford, cutting the price of petrol by 1c to €1.489 and diesel by 3c to €1.398.

Texaco at Kilmurry roundabout Castletroy, Limerick, meanwhile, cut its petrol price by 3c to €1.509 and its diesel by 4c to €1.409 since last week.

Tesco said it was reducing the price of petrol at its filling stations by 1c and diesel by 2c yesterday and its average price was now €1.499 for petrol and €1.429 for diesel. website owner Jonathan Dean said he believed motorists would see petrol price falls over the next couple of weeks as recent world oil price drops filtered through.

"I don't think stations are deliberately holding back, because high prices are hurting them too much, it just takes a couple of weeks for reductions to filter through," he said.

World oil prices for Brent crude were trading at $116 per barrel yesterday, up from $108.40 last Friday but down from an earlier peak of €125.

Irish Independent

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