The price of petrol and diesel has reached a four-year low, according to the latest price survey by AA Ireland.
A litre of petrol now costs an average of 94.6 cent, down 6.8 cent in the last month, according to the survey. The price of diesel fell by 7.4 cent to an average of 94.4 per litre.
In the last six months petrol and diesel prices have fallen by 30 per cent from average prices of 133.5 a litre for petrol and 143.8 cent for diesel.
“The last time fuel was this cheap was February of 2005. It’s a relief to ordinary motorists and it puts more money in their pockets,” said AA public affairs manager Conor Faughnan.
Oil prices have fallen further in the last few days were at $37 a barrel earlier today. An with euro staying strong against the dollar, the prospects for continued low fuel prices are good, Mr Faughnan added.
He said the AA calculated that a modest 1.6 litre petrol family car doing 12,000 miles a year, and obtaining 30 miles per gallon, will use 150 litres of fuel per month. Last July the fuel bill for the car would have been €200. The same bill is now €142.
The reduction of €58 on this monthly fuel bill would have been €70 if the Government had not increased excise duty in the last Budget.
