Saturday, July 30, 2022

The cost of petrol and diesel is steadying slightly, however, it is impossible to predict what is to come, AA Ireland has warned.

Their latest Fuel Price Index showed the average pump price for petrol in July was 200.3c per litre, while diesel was 201.8c.

Fuel prices spiralled earlier this year following Russia’s invasion of Ukraine in February.

AA Ireland’s Paddy Comyn said it is impossible to know how events around the world will impact the price of fuel here.

“Things did look like they were getting very bad about four to five weeks ago, but thankfully the predictions of it reaching as much as €2.50 per litre haven’t materialised for now,” he told Newstalk.

“If anything, we can look forward to a few weeks of stability,” he added.

The price index also revealed the price of fuel in July before tax was 98.075c and 110.16c for petrol and diesel respectively, while the cost of a barrel of oil was $109 (€106.60).

According to the AA’s figures, in the same month last year, petrol cost 139.5c per litre while diesel was 129.9c, with 2c since added to the price following the budget last October.

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