The fuel prices in Ireland have fallen again this October, despite the implementation of additional taxes under Budget 2025, which included an automatic increase in Carbon Tax.
According to AA Ireland, the average price for petrol decreased by 2 cents to €1.72 per litre, while diesel prices dropped by 1 cent to €1.66 per litre. This marks the third consecutive month of declining fuel prices.
The primary driver of this decline is the falling price of crude oil, currently hovering around $74 per barrel. Although geopolitical tensions, including ongoing conflicts in the Middle East and the Russian invasion of Ukraine, typically lead to spikes in oil prices, the market has remained surprisingly stable.
Electric vehicle (EV) owners are also benefiting from the price drop. On average, they can expect to pay €808.64 annually to cover around 17,000 kilometers, reflecting a reduction of approximately €49 this month. Jennifer Kilduff, Head of Marketing & PR for AA Ireland, noted, “Again we’re seeing the average price of fuel decrease at the pumps. The EV driver is better off this month as a result of standard 24-hour rates decreasing with energy provider Energia. We also know that Electric Ireland is reducing their rates from November 1st, so rates will only continue to improve for EV drivers over the coming months.”
However, caution is warranted. Fuels For Ireland has highlighted that, due to the changes in Budget 2025, Ireland now faces the highest levels of fuel taxation in Europe. While this may be manageable amid falling oil prices, any significant increase in oil costs could lead to sharp rises at the pumps, significantly impacting consumers.
