The major news for motorists earlier today as one garage in Dublin city centre dropped the price of Diesel to €1 a litre.
The filling station Mount Brown Emo in Dublin 8 has delighted many by dropping its diesel price to 99.9 cents a litre. The move comes after, filling stations the north-west of the country lowered their prices to the same amount. The dramatic fall in prices follows the news that crude oil fell to a 12-year low of less than $30 a barrel on international markets.
Meanwhile, Dermot Jewell, Policy and Council Advisor with the Consumer Association of Ireland said he expects that fuel prices will continue to fall, making it cheaper than water. Mr Jewell told reporters: “If you listen to the experts and their comments now and if you look to the reality we’ve seen at the pumps of the price reduction below a euro for diesel, then yes it is very, very likely that it is a real potential.”
“Petrol would drop below the somewhat outrageously price bottled water.” “How long it will last is another issue. We already have stations here in Ireland who are selling [diesel] below a euro a litre.” “Experts are saying that there is still the potential for the 99.999 cents to drop as much as another 14 cent which would be phenomenal.”
Mr Jewell added: “It’s exceptionally good news. What needs to be brought into mind is that this is a factor in the reality of the goods and services we have imported. So if the fuel is cheaper we could see a reduction in the prices of goods and services. It should reasonably follow.”
It is widely expected that more filling stations throughout the country will follow suit and lower petrol and diesel prices.