Irish fuel prices have fallen slightly, a recent survey from AA Ireland has shown, but are set to rise again with the reintroduction of excise duty on June 1. Currently, the average nationwide petrol price is €1.57, a 1.2 per cent drop since April and the lowest since September 2021. The price of diesel has dropped by 2.6 per cent, to an average of €1.47 per litre.
On June 1, the price of a litre of diesel will increase by five cents, with petrol prices rising by six cents per litre.
Full restoration of fuel duty by 31 October
"If fuel prices remain the same, these increases will see petrol costs increase by 3.8 per cent and diesel by 3.4 per cent", said Paddy Comyn, Head of Communications for AA Ireland.
A further increase of seven cents per litre for petrol and five cents for diesel is planned for the September 1, before the rate of fuel duty will be fully restored by the Government on October 31, raising petrol prices by eight cents and diesel by six cents per litre.
Regarding the planned increases in petrol and diesel prices, Comyn said: "We have known about it for some time, but it will come as another unwelcome increase for motorists after enjoying a period of reasonably stable fuel prices".
EV charging costs still elevated
On the other hand, electric car drivers are still paying elevated prices due to high electricity costs across the board. According to AA Ireland, the average yearly cost to charge an EV currently stands at €1,131.04, a small decrease from last month's average of €1,138.13.
Nonetheless, EV owners who use smart meters and charge their cars on night rates could pay just €421.43 to cover an average 17,000 kilometres, though those who use public chargers could find themselves paying up to €2,150.27 a year.
It will be of no consolation to EV buyers that Irish households pay some of the highest electricity prices in Ireland, but even so there are no signs of a price drop any time soon.