It represents a 1% decrease from April. In the same period, diesel prices also came down to €1.47 per litre, a 2.6% drop.

"Prices continue to shrink across the country in May for both petrol and diesel, but the start of the reintroduction of excise duty will increase petrol by 6 cents per litre and diesel by 5 cents per litre on June 1st, with more to follow,” said the AA Ireland’s head of communications, Paddy Comyn.