Irish ‘green’ diesel prices drop further, but by how much?

Following the World Health Organization (WHO) declaration that Covid-19 is now a ‘pandemic’, the global economy has taken a noteworthy dip.

Crude oil has seen a hefty price-drop; with one international outlet reporting that prices have dropped by “27% for the week”.

Crude oil prices

It’s being reported that US crude oil dropped by another 6% on Thursday (yesterday), bringing the price to circa $31.00/barrel.

This drop in crude oil prices comes amidst a recent row between Russia and Saudi Arabia, whereby the latter has embarked on a price war against the Russians – previously “viewed as an ally” of sorts.

Irish ‘green’ diesel prices

Following this, AgriLand contacted agricultural diesel merchants around the country on Friday, March 13 – to find out what ‘green’ diesel is changing hands for.

Interestingly, when we reached out to diesel merchants for quotes last month, prices were said to be down at that point in the year. Now they appear to have fallen further.

On Friday, some merchants were quoting circa 54c/L excluding VAT (62c/L including VAT) for ‘green’ diesel – for larger orders (i.e. 1,000L or more).

One merchant told AgriLand that crude oil prices were down again this morning – possibly pointing to a further drop in fuel prices to come.