Esso has cut the price of petrol by 3.3p per litre following a reduction in crude oil prices due to increased production in Saudi Arabia.

A spokeswoman for Esso said that the price of a barrel of crude oil has dropped from $30 (€32) to $25, enabling the company to pass on this price reduction to customers. The reduction applies to Esso's unleaded 95, Superplus, and LRP products.

Increases in fuel costs have been a key contributor to rising inflation.