Fuel prices have plummeted due to the coronavirus outbreak, it has been revealed.
The cost of a litre of fuel in Ireland has fallen dramatically in the past month according to figures released by AA Ireland, with the pandemic and a significant drop in crude oil costs among the key factors behind the drop at the pumps.
According to the AA’s latest monthly study of fuel prices across the country, a litre of petrol now costs 126.5c on average – a decrease of over 15c compared to last month’s average price of 141.9c.
As a result of the drop, the cost of a litre of petrol is now at the lowest level recorded since April 2016.
Meanwhile, there was also good news for diesel drivers as the cost of a litre of diesel fell by over 16c in the past month to a current level of 116.9c. This means that diesel prices are now at their lowest rate since September 2016 according to the AA’s monthly research.
Conor Faughnan, AA Director of Consumer Affairs, said: “At a time where we’re all looking for some positive news, the significant drop in pump prices is a welcome development for motorists across the country – particularly those who may be more reliant on their car currently than they ordinarily would be.
“As many people are facing financial uncertainty during the current Coronavirus outbreak, anything which will help reduce their outgoings is good news.
”While the impact of the Coronavirus on oil prices is likely to be reversed at some point in the future, the steps being taken by Saudi Arabia are likely to have a longer-term role in affecting crude oil and pump prices.”
