Fuel prices here are set by factors including global oil costs, exchange rates, and local competition at forecourts
The price of petrol and diesel across Northern Ireland is continuing to fall. In the UK, the average price of a litre of petrol at forecourts reached 159.7p, the most expensive it has been since November 2022.
The Consumer Council’s Fuel Price Checker, which is updated weekly, shows the current average price for petrol in Northern Ireland is 151.9p per litre, down from 153.6p last week. The average price of diesel here is 172.2p, down from 174.1p last week.
The price of fuel varies depending on where you are in Northern Ireland, with some areas coming in below the regional average. Fuel prices here are set by independent retailers based on global oil costs, exchange rates, and local competition at forecourts.
In eight locations around Northern Ireland this week, petrol prices were 2p per litre cheaper than the regional average at 149.9p. This price was recorded in Ballycastle, Ballymena, Ballymoney, Bangor, Dungannon, Larne, Lisburn, and Newtownards.
The most expensive location to purchase petrol this week is Newry. Here, the average price comes in at 8p above the Northern Ireland average at 159.9p per litre.
The cheapest diesel price was recorded in three different spots this week. In Armagh, Ballymoney, and Strabane, the average price of diesel is 2.8p below the regional average at 169.4p per litre.
Meanwhile, Enniskillen is the most expensive place to buy diesel this week, with prices here coming in at an average of 175.5p per litre, 3.3p above the overall average.
The ongoing war between the US and Iran has led to higher petrol and diesel prices globally.
A report by competition watchdog the Competition and Markets Authority (CMA) noted that the difference between the price retailers pay for fuel and the price at which they sell it, known as fuel margins, remained at “historically high levels” in April, at an average of 11.3p per litre.
The watchdog said it “would be concerned” if current high fuel prices “persist” amid recent easing of supply constraints.
Sarah Cardell, chief executive at the CMA, said: “We know prices at the pump are putting real pressure on drivers’ pockets.
“While our analysis shows the rise in wholesale prices is the main reason for higher fuel prices, we remain concerned about weak competition in the sector leaving drivers paying more.
“Retailers should be in no doubt that we are continuing to monitor prices and margins closely and expect any reductions in wholesale prices to be rapidly and fully passed on to drivers.”
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