Unleaded petrol now averages €1.73 per litre, according to the latest monthly fuel price survey from AA Ireland.
This is down 4c from June when it was selling for an average of €1.77.
Diesel prices have held steady at €1.69 per litre.
Today’s News in 90 Seconds – Wednesday, July 30
AA Ireland said the slight softening in petrol costs and the fact that diesel prices have not moved was a small but welcome relief for motorists.
More than half of the price of a litre of motor fuel at forecourts is made up of tax and other State levies.
There was no change in electric vehicle (EV) charging costs at home.
But EV charging on-the-go costs with ESB ecars will increase from €0.59kWh to €0.66kWh for their high-powered chargers from Friday.
An spokesperson for AA Ireland said: “July brings a small shift in the right direction for petrol drivers, with prices easing slightly.
“While diesel remains unchanged, the stability may offer some predictability for most motorists as we move through summer when longer drives usually take place.”
The spokesperson said the recent changes to EV on-the-go charging prices by ESB ecars, while still competitive in market, will add additional costs to the motorist.
This will especially impact those on staycations that have no alternative option to charge.
AA Ireland encouraged drivers to take proactive steps to manage fuel usage.
Driving habits have a direct impact on efficiency, and simple actions such as smooth acceleration, maintaining correct tyre pressure, and removing unnecessary weight from the vehicle, can all help reduce costs, the spokesperson said.
Crude oil prices rose this week after US President Donald Trump said he was reducing a 50-day deadline given to Vladimir Putin to agree a deal with Ukraine.
Brent crude futures settled $2.47, or 3.53%, higher at $72.51 a barrel
Oil prices had already risen on news of a EU-US trade deal.
Oil prices had risen earlier in the day on Monday as investors reacted to news of a EU-US trade deal, announced on Sunday.
Among other provisions, the EU agreed to buy $750 billion of US energy products, including oil, LNG, and nuclear energy over three years.
Trump’s tariff threats have previously deflated oil prices this year as investors predicted that a potential economic slowdown could affect demand for oil. Geopolitical risk, on the other hand, has stoked prices in cases where investors have expected threats to supply. US attacks on Iran’s nuclear facilities, for example, prompted a spike in oil prices in June.
An OPEC+ committee meeting is taking place on Monday, where participants will decide on production policy for September.
Both the International Energy Agency and the US Energy Information Administration expect a strong oil surplus next year, with supply outpacing demand.
After securing a deal with the EU, Washington has now set its sights on negotiations with China. US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer are meeting with Chinese officials, including Chinese Vice Premier He Lifeng, on Monday in Stockholm.
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