Unleaded petrol now averages €1.70 per litre, down from €1.73 in July, and diesel averages €1.68 per litre, down from €1.69. EV at-home charging costs remained steady this month while ESB public charging rates rose in July and high-powered chargers cost €0.66/kWh. Public charging currently attracts a reduced 9pc VAT rate that will return to 13.5pc. Fuel prices are falling because crude oil costs remain low amid strong OPEC+ and non-OPEC production, weak global demand and a softer dollar. Families face higher insurance, tolls, food and energy costs during the back-to-school season.
Fuel prices are falling due to crude oil costs staying low. This is due to strong production from the both OPEC+ and non-OPEC countries. This is coming at a time when there is weak global demand for crude oil due to sluggish economic growth in China, and a fear of a slowdown in the US. OPEC+ recently announced that it will fully unwind its 2.2 million barrels per day of voluntary production cuts by September 2025, a full year earlier than planned.
The motoring organisation said that ESB electric vehicle public charging rates rose in July, but the cost of charging an EV at home has remained unchanged this month. EV charging on-the-go costs with ESB e-cars remain at €0.66/kWh for high-powered chargers, following July's increase. Those prices will likely rise again in October, AA Ireland said. Currently, public EV charging enjoys a reduced 9pc VAT rate, but this is set to return to the standard 13.5pc VA
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