AA Ireland’s latest fuel price analysis shows a reduction in pump prices in May after recent Government measures aimed at easing pressure on motorists and businesses.
But AA Ireland said that despite the monthly reductions, fuel costs remain significantly higher than levels seen earlier this year.
Diesel prices fell to an average of €1.97 per litre in May, down 17 cent from the average price in April. Petrol prices averaged €1.82 per litre in May, down nine cent month-on-month.
EV charging rates remain broadly stable compared to April.
An AA Ireland spokesperson said fuel prices remain elevated compared to the beginning of the year and many drivers are still feeling the impact of higher transport costs.
“The Government’s intervention has helped ease some of the immediate pressure, but global oil markets remain unpredictable. Any escalation in geopolitical tensions or further volatility in crude oil prices could quickly reverse these recent reductions,” the spokesperson said.
“AA Ireland notes that fuel prices continue to be heavily influenced by global market conditions, including oil supply concerns, geopolitical instability and currency fluctuations. Although prices at the pump softened in May, Brent crude oil prices remain volatile and further movement at the pumps is possible in the coming weeks,” the spokesperson cautioned.