Diesel prices below a euro a litre in Castlebridge
Published 27/01/2016 | 00:00
DIESEL prices in Wexford have dipped below a euro a litre for the first time in 10 years.
Castlebridge Centra, which is owned by Louis Flanagan, became the first service station to offer diesel below a euro over the weekend, with a price of 99.9 cents a litre, around two cents a litre cheaper than his nearest competitors.
The speed with which fuel prices have been falling is shown by the AA's recently-published chart of January prices which still has diesel at an average of 112.8 cents a litre. While some petrol stations are still charging those prices around the county, they are few and far between.
Similarly, the AA has petrol at an average of 126.5 cents a litre, but litre prices below 120 cents are readily available.
Camolin is believed to be the second cheapest town in which to buy diesel with pump prices at 100.9 cents at local forecourts over the weekend.
Louis Flanagan said he was taking some flak over his prices from other petrol retailers, but said they would remain low for the forseeable future.
'Oil prices are influenced by the Middle East, the dollar is not going anywhere and is remaining strong, inflation is low and with Iran in the market (following the lifting of sanctions) they will see oil for a dollar a barrel to get money in,' he said.
'It's great for the working people, it's a huge saving. For prices to reach where they were last year, they would have to go up by 50 per cent,' he said.
Mr Flanagan said the reason that some petrol retailers were slow to reduce prices was that they were company owned.
'On this road I'm up to 10 cents a litre cheaper,' he said.
'They say it's bad for the economy for fuel to be too cheap, but I think it increases people's spend and if you ask 50 people outside Wexford town if they think prices are too low, nobody will tell you that,' said Mr Flanagan.