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Fuel prices fall again in May ahead of June excise duty increase – AA Ireland

By May 16, 2023No Comments

Fuel prices have fallen again slightly but are set to increase by six cents per litre for petrol and five cents per litre for diesel on June 1.

The latest AA Ireland fuel prices survey for May shows the average petrol price across the state is €1.57, the lowest since September 2021.

Diesel prices saw a 2.6% drop to hit an average of €1.47 per litre, also the lowest since September 2021.

“Prices continue to shrink across the country in May for both petrol and diesel, but the start of the reintroduction of excise duty will increase petrol by 6 cents per litre and diesel by 5 cents per litre on June 1, with more to follow”, said AA Ireland’s Head of Communications, Paddy Comyn.

“If fuel prices remain the same, these increases will see petrol costs increase by 3.8% and diesel by 3.4% on June 1. We have known about it for some time, but it will come as another unwelcome increase for motorists after enjoying a period of reasonably stable fuel prices,” he added.

Following the June increase, excise duty rates will increase again on September 1, with prices for petrol to go up by seven cents for petrol and five cents for diesel.

The Government will fully restore the rates at the end of October with a final increase of eight cents for petrol and six cents for diesel.

Today’s figures from the AA also show that drivers of electric vehicles are paying almost identical amounts this month as electricity prices remain elevated.

The average EV driver is paying €1,131.04 to charge their car over the course of the year, down from €1,138.13 in the previous month

Article Source: Fuel prices fall again in May ahead of June excise duty increase – AA Ireland – Author- RTE

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