Petrol and diesel prices feel by one cent on average last month to just over 103 cents per litre but are unlikely to fall much further, according to an AA Ireland survey of petrol prices.
According to the AA petrol now costs an average of 103.4 cent per litre and diesel costs 103.5 cent and both have fallen by an average of 1 cent in the last month.
AA Ireland spokesman Conor Faughnan said Irish consumers should not expect petrol prices to fall much further as oil prices are holding at between $55 and $60 per barrel.
Today oil prices are at a 20-year low of $50.28 a barrel.
"In the short term we don't expect to see a significant change. As the year progresses we are, once again, in the lap of the gods. This is very frustrating for the Irish economy because
so much of what we do depends on oil and we have absolutely no control over prices."
He encouraged consumers to "shop around" even though in certain areas, such as Dublin, the number of petrol stations was falling as land was being sold for development
"Nevertheless no matter where you are in the country you can always seek out cheaper fuel, so its worth the effort to keep an extra few bob in your own pocket," Mr Faughnan said.
