Sunday 25 February 2018

Fuel prices fall below €1.70 for first time in four months

Breda Heffernan

Breda Heffernan

PETROL prices have fallen at the pumps for the first time in four months and are now back below the €1.70 a litre mark, new figures show.

Petrol now costs an average of €1.68 a litre, a drop of 2.2c from last month, while a litre of diesel costs €1.59, down 1.3c, according to an AA survey. A strengthening of the euro against the dollar has been credited with the fall.

However, the AA pointed out that prices are still "just painfully short" of record prices and are still significantly higher than they were at the beginning of the year. Petrol prices broke the €1.70 barrier for the first time in August.

Conor Faughnan, director of consumer affairs at the AA, said: "We still have a fuel crisis and it is still the number one issue for motorists, affecting 1.36 million Irish households.

"The Government must recognise this and act on it in the forthcoming Budget."

Fuel price website said geopolitical concerns in the Middle East are keeping oil prices at their current levels and there is nothing to suggest any dramatic price movement -- in either direction -- over the next couple of weeks.

However there are other mounting costs for motorists.

Motor tax increases are likely in December's Budget, while the same month will see insurance premiums rise for female drivers, as reported in the Irish Independent.

Irish Independent

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