Petrol prices look set to fall by between five and six cents in the coming days as the international oil market continues to stabilise in the wake of Hurricane Katrina.
Esso Ireland confirmed today that it is cutting petrol and diesel prices at its company-owned service stations by up to 5 cents a litre.
The company said: "These reductions reflect the decreases in the international market prices for petrol and diesel, which we are delighted to pass on to customers so quickly." Prices of unleaded petrol have eased from a high of just €1.30 a litre earlier this month.
A sample survey of prominent Dublin service stations contacted by ireland.comtoday quoted prices ranging between €1.12.9 and €1.18 a litre.
The cheapest was at the unbranded service station at the Kimmage Cross Roads where a litre of petrol was selling at €1.12.9 and a litre of diesel was €1.07.9.
The most expensive was the Shell on the Dodder Rd which was €1.18. Texaco outlets in Rathfarmham and Churchtown were selling a litre of petrol at €1.13.
Maxol Ireland said it expected prices of petrol and diesel to fall over the weekend or early next week as its garage owners passed on cheaper international prices to consumers.
A spokesman said he expected prices to drop by up to 6 cents but ruled out a major drop in prices with crude oil predicted to stay above $60 in the near future.
A spokesman for Shell Ireland said prices look to have peaked internationally and we expect "a softening at the pumps" within a week.
The price of oil eased further below $65 today on fears that record high prices are undermining global demand. US light crude was trading down 26 cents at $64.49 a barrel earlier in London today.
