The Oil Bulletin is designed to improve the transparency of oil prices and to strengthen the internal market.
The most recent oil bulletin of 25 November showed the average price of diesel in Ireland was €1.49 litre including taxes and duties. This compares to a weighted EU average of €1.42 litre for diesel including taxes and duties.
Diesel prices in other EU countries of note including €1.64/litre in the UK, €1.43/litre in Germany, €1.31/litre in France, €1.34/litre in Spain and €1.64/litre in Italy including taxes and duties.
In terms of petrol prices the most recent oil bulletin shows the average price of petrol in Ireland was at €1.56 litre including taxes and duties. This compares to a weighted EU average of €1.57 litre for petrol including taxes and duties. There were large variations in petrol prices across the EU of note prices in the UK was €1.55/litre, €1.57/litre in Germany, €1.48/litre in France, €1.40/litre in Spain and €1.71/litre in Italy including taxes and duties.
Of importance at this time of the year the oil bulletin found the average price of home heating oil in Ireland was 1.06 per litre including taxes and duties. This compares to an EU average of €0.94 per litre including taxes and duties. Prices in the UK were significantly lower at €0.81/litre.
It must be noted the prices in EU member states and the weighted averages fluctuate on a weekly basis. However the data does give an indication of where Ireland stands in terms of fuel costs.
The European weekly oil bulletin can be viewed here.