NEW figures show that Fermanagh is leading the way in fuel price recovery.
Motorists will have noticed the gradual drop in both petrol and diesel costs when filling up their fuel tanks at the pumps.
A study by Moneyzine found that the county has been leading the way in the North in terms of low prices.
Last year, Fermanagh had the highest price surge – 21.2 per cent – in the North with the average price of fuel being at an eye-watering 177.59 pence per litre (PPL).
Fast forward 12 months and buying fuel in the county has not been as hard on the wallet with prices dropping by 14.1 per cent to 152.93 PPL – the largest decrease in Northern Ireland.
Neighbouring Tyrone had a drop of 13.58 per cent to 155.09 PPL – compared to 179.37 PPL last year.
Derry, however, had the slowest recovery of fuel prices in the North with a drop of 13.35 per cent that saw last years price of 178.60 PPL fall to 154.80 PPL.
Jonathan Merry, Personal Finance Expert and CEO at Moneyzine.com offered Fermanagh drivers his tips on finding the cheapest fuel.
He said: “Fill-up in off peak hours as opting for weekdays or non-peak hours to fill up can often secure more favourable prices.
“Downloading reliable apps and checking websites can also provide real-time updates on fuel pricing in your area, allowing you to make informed decisions.
“You could also join a loyalty program. These often provide discounted rates and special promotions for cardholders.
“Finally, keep an eye on fuel pricing in your area. Local prices are varying a lot at the moment, factors like competition, refinery proximity, and transportation costs can influence fuel prices significantly.”
The reason for the drop in prices, according to the RAC Foundation, is the fall in price of crude oil which stands at £58 per barrel having previously stood last year at more than £97.
However, a report in Moneyweek magazine stated that while the price drop in fuel would no doubt be welcomed by motorists, the market was still in a fragile state where a number of factors –including how the Russia-Ukraine war develops and a weakened pound – could well see prices at Fermanagh’s fuel pumps go up again.
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