| 12.6°C Dublin

Motorists saving €35 every month as fuel prices drop

Close

The average price of a month’s supply of petrol is now €197.40.

The average price of a month’s supply of petrol is now €197.40.

The average price of a month’s supply of petrol is now €197.40.

Some motorists are now saving up to €35 on diesel and petrol per month, as fuel prices continue to drop.

The average price of a month's supply of petrol is now €197.40. This is €31.95 cheaper on average in comparison to last year's monthly fuel bill.

Drivers of diesel cars are also enjoying significant savings at the pumps. The average price of a month's supply is currently €186.45, a saving of €34.95 in comparison to January 2014.

This is the sixth consecutive month that fuel prices have dropped.

These figures are from the latest national fuel price survey carried out by the AA, based upon a car which does an average of 12,000 miles per year using a monthly average of 150 litres.

The average price of a litre of petrol currently stands at 131.6 cent, and has dropped by 10.8 cent since December.

Diesel has also dropped 9.7 cent since last month, and the average price of a litre is 124.3 cent.

In July 2014, the average price of a litre of petrol was almost 26 cent more expensive than it is now.

Conor Faughnan, Director of Consumer Affairs with the AA, said that these savings will be warmly welcomed by motorists.

"Given that a motorist will typically use 150 litres of fuel in a month, that is a big saving," Mr Faughnan said.

Home & Property Newsletter

Get the best home, property and gardening stories straight to your inbox every Saturday

This field is required

"Prices are falling sharply in response to the collapse in world oil prices, and we are certainly feeling it in our pockets which is a very welcome present for January."

But while the AA has said that these savings are welcome, it has criticised the Government as the taxes here remain "extraordinarily high".

"There have been five separate tax increases on both petrol and diesel since the emergency budget of October 2008, which between them added approximately 23 cent per litre to the retail price," a spokesperson said last night.

Michael Griffin from the Irish Petrol Retailers Association said that his organisation is constantly lobbying the Government to reduce the tax on fuel.

"We'd always encourage the Government to look at it. The percentage the Government takes is huge," Mr Griffin said.

"It is about 60pc at the moment, because with the falling prices the percentages goes up - what the Government takes doesn't change."

A spokesperson for the Department of Finance last night said that it would not comment on the issue, but said that all groups are invited to lodge submissions on this matter before the next budget.

The AA is continuing to warn consumers to be aware of potentially damaging "stretched fuel" (fuel diluted with cheaper kerosene) and to be wary of retailers who are selling petrol "that is notably cheaper than national average prices".

"While prices are down, it's a good idea to do a bit of price benchmarking in your local area and take care where you source your fuel. If you have suspicions about a garage, report it to Revenue, or let us know here at the AA and we'll pass on the relevant information," Mr Faughnan added.

A recent study found that almost one-fifth of motorists will avoid garages if fuel prices "appear too cheap" and more than 60pc "almost always buy their fuel from the same garage".


Privacy