Neale Richmond (Dublin Rathdown, Fine Gael) | Oireachtas source

A number of factors affect the final retail price of fuels, including energy market dynamics, wholesale pricing, individual retail pricing policy, transport costs, exchange rate fluctuations and taxation. It is important to note that despite the restoration of excise rates which occurred in April and August this year, as well as the carbon tax increase on 9 October, national average retail prices have generally declined over the past six months or so. While national average prices as of 6 May 2024 were approximately €1.84 and €1.78 per litre for petrol and diesel respectively, average prices as of a number of days ago were approximately €1.73 for petrol and €1.66 for diesel. It is important to note that at the time of the initial Government intervention in March 2022, prices were approximately €1.92 and €1.86 for petrol and auto diesel respectively.