Price of petrol falls to five-year low

The price of petrol in Northern Ireland has fallen to a five-year low.

The Consumer Council said the price of petrol at forecourt fuel pumps has continued to fall in the region, and this week reached its lowest level since May 2021.

It said that following a period of relative stability over the last 12 months, petrol dropped to 124.2p per litre this week, while diesel remains unchanged at 131.9p per litre.

This comes after the highest recorded average prices of 189.9p per litre for unleaded and 197.5p per litre for diesel in June 2022 following the Russian invasion of Ukraine.

Karen Smyth, director of infrastructure and sustainability at the Consumer Council, said the price of fuel is made up of several factors which may vary from one retailer to another.

“We have always seen a variation in pump prices across Northern Ireland,” she said.

“Price differences often reflect when fuel was purchased by retailers and the volume bought at a given price.”

The Consumer Council tracks forecourt fuel prices across Northern Ireland on a weekly basis and publishes the results on its website every Thursday.

Meanwhile the UK Government runs a Fuel Finder Scheme to which forecourts must submit their pricing information and notify within 30 minutes of any price change at the pump.

Consumer Council head of transport policy Michelle Kelly welcomed the scheme, saying: “We welcome this open data scheme, which is a significant extension of the type of transparency the Consumer Council has sought to create for Northern Ireland consumers through our Fuel Price Checker.”