Irish motorists warned fuel price drop may not last
Irish motorists have been warned that the recent drop in fuel prices may only be temporary, with another hike possibly just around the corner.
In many forecourts across Ireland, the average price of petrol now sits at €1.77, which is 7 cent less than in October, while diesel is €1.96, down 6 cent.
One of the cheapest fuel stations in Ireland, Top on the South City Link Road in Cork is currently selling petrol at €1.65 and diesel at €1.85, according to pumps.ie. This is down from prices hitting highs of €2.20 a litre for petrol and €2.10 a litre for diesel over the summer months.
However, AA Ireland are advising motorists this dip in price may not last for long and we could see prices crawl back up as soon as early December.
Fuel prices could be impacted once more if further EU sanctions are placed on imports of crude oil from Russia due to the ongoing war between Russia and Ukraine.
Paddy Comyn from AA Ireland told Newstalk: “Things could change quickly as the EU considers further sanctions on Russian oil.”
A G7 price cap, and EU plans to ban imports of crude oil from Russia on December 5 are the main factors behind this Mr Comyn explained.
He added: “There is a ban on Russian oil across Europe and all products set to be banned by February.”