Fuel Prices in Ireland Drop for Third Consecutive Month

Fuel prices in Ireland have dropped again this October, despite the introduction of additional taxes under Budget 2025, which included an automatic rise in Carbon Tax.

According to AA Ireland, the average price of petrol has fallen by 2 cents to €1.72 per litre, while diesel has decreased by 1 cent to €1.66 per litre. This marks the third month in a row that fuel prices have declined.

The main factor behind this decrease is the lower price of crude oil, which is currently around $74 per barrel. Although geopolitical tensions—such as conflicts in the Middle East and Russia’s invasion of Ukraine—often lead to higher oil prices, the market has remained unexpectedly steady.

Owners of electric vehicles (EVs) are also benefiting from the price reductions. On average, they can expect to pay €808.64 annually for driving approximately 17,000 kilometers, which is a reduction of around €49 this month. Jennifer Kilduff, Head of Marketing & PR at AA Ireland, said, “Once again, we are seeing a drop in fuel prices at the pumps. EV drivers are also benefiting from lower costs this month, thanks to decreases in standard 24-hour rates from energy provider Energia. Additionally, Electric Ireland will be lowering their rates starting November 1st, so EV drivers can look forward to further savings in the coming months.”

However, there is reason for caution. Fuels For Ireland has warned that, due to changes in Budget 2025, Ireland now has the highest fuel taxes in Europe. While the current drop in oil prices is cushioning the impact, any significant rise in oil costs could result in sharp price hikes at the pumps, placing a heavy burden on consumers.

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