After fuel costs hit record highs this week, a drop in petrol and diesel prices has been recorded at the forecourts.
Speaking to Breakingnews.ie, Paddy Comyn, head of communications at AA Ireland, said that prices are going down in the right direction.
After surveying service stations nationwide, AA Ireland confirmed that the price has dropped to €1.91 for diesel and €1.84 for petrol.
"The prices fluctuate a lot, so we have seen quite a few changes, but they are going in the right direction," Mr Comyn explained.
"They are down so far in terms of what we have seen over the last few days when we were seeing prices exceeding €2.
"But we have seen quite a drop, in some cases a drop of 20-30 cent."
Evolving situation
Mr Comyn said the decline is an inclination that prices are dynamic.
"It is an ever-changing situation. We know that the price of a barrel of oil has gone down which is means things are stabilising a little.
"It is a positive in the short term for now, after the last couple of days when there was a bit of unrest.
"The situation will evolve, and these prices are still an increase on three weeks ago, so we are still at high level prices."
Consumers have been taking a hit when it comes to fuel prices following Western sanctions on Russian fuel.
In a bid to take a weight of drivers, the Government introduced a cut of 20 cent per litre on petrol and 15 cent per litre of diesel, which took effect from midnight on Thursday.
Meanwhile, Fuels for Ireland, the industry body for fuel suppliers and retailers, slammed allegations of “profiteering” in the industry amid the excise duty cut.
On Friday, Minister for State Niall Collins said the Government would “go further” to reduce the cost of fuel by cutting VAT, something the State is currently engaging with the European Commission about.
