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HomeFarming NewsFuel price drop could be ‘some temporary respite’
Catherina Cunnane
Catherina Cunnanehttps://www.thatsfarming.com/
Catherina Cunnane hails from a sixth-generation drystock and specialised pedigree suckler enterprise in Co. Mayo. She currently holds the positions of editor and general manager at That's Farming, having joined the firm during its start-up phase in 2015.
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Fuel price drop could be ‘some temporary respite’

Price drops at petrol and diesel pumps across Ireland “might just be some temporary respite”.

That is according to Paddy Comyn, AA Ireland, head of communications, who has urged motorists that there are a number of other factors to consider.

The body has released its latest November AA Fuel Prices survey, which shows the average price of both diesel and petrol have dropped by around 6c/L across the country.

It reports that the average price of diesel is now €1.96c/L, which is 6c/L less than the corresponding period last month when prices circled around €2.02/L.

On the other hand, the average price of a litre of petrol has fallen to €1.77/L, a 3.8% drop in price compared to October (€1.84/L).

But, according to Comyn, the decreases could be reversed as European traders have begun “rushing” to fill tanks in the region with Russian diesel before an EU ban begins in February.

The European Union will ban Russian oil product imports, on which it relies heavily for its diesel, by February 5th, he reports.

This will follow a ban on Russian crude taking effect in December.

He commented: “Diesel from Russia has made up 44% of Europe’s total imports so far in November, compared with 39% in October.”

“Russia remains the continent’s largest diesel supplier. Quite what will happen to the price of diesel, in particular, after the EU ban comes into effect remains to be seen.”

He reported that 2023 brings the prospect of increases in toll prices across the country and an increase of up to 50% in the price of public EV charging.

EV

In other news, 34% of motorists in Ireland have or would switch to an electric vehicle (EV) due to rising fuel costs, new research indicates.

The Automobile Association in Ireland published the findings of its recent poll – involving 4,200 motorists – on EVs earlier this month.

14% of those that the association surveyed said a switch would be a ‘personal choice’, and 9% said an EV would be ‘suitable’ for their ‘driving needs’.

When the association asked why people would be hesitant to switch to an electric vehicle, 57% said it was due to a lack of or insufficient charging infrastructure.

Meanwhile, a further 45% said it was due to range anxiety or technological uncertainty and 58% said it would be cost-related.

21% revealed there is a lack of information about these vehicles, while a further 17% said there is limited availability and choice of models. 

Read more on this news article.

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