Fuel prices have surged upwards yet again, reaching new highs and setting a new record for both petrol and diesel, according to the AA’s monthly fuel price survey.
The countrywide average price of a litre of unleaded petrol is now 150.7 cent, up 1.3 cent on the figure for March. Diesel also rose, up by 1.3 cent to its new record high of 146.3 cent.
“It’s a disappointing figure and another kick for motorists but it doesn’t just affect the private car user.” Says Director of Policy, Conor Faughnan. “It is a rise in the basic cost of doing business for virtually every good and service within the Irish economy, and at these levels fuel prices are a serious impediment to economic recovery.”
The latest rise continues the unwholesome trend that has been hurting motorists since November of last year.
“Prices rose steadily all through last year but from November onwards they really took off.” Says Faughnan. “Both main fuels are now some 20 cent per litre more expensive than they were last October. This is a huge blow to family finances, compounded by the previous government’s decision to increase tax yet again in December’s budget.”
Prices dipped a little 3 weeks ago and seemed to be showing signs of stabilising however world oil price rose again and Irish retail prices rose with it. Oil has now surpassed $120 per barrel.
The average motorist now pays €226.05 for fuel in a month, of which €127.77 (57%) is tax. That figure is €30 higher than it was just last October.
“This has been a bad news story that has kept on getting worse.” Says Faughnan. “The government can help by correcting the mistake of its predecessors and removing the excise duty increase (4 cent for petrol and 2 cent for diesel) that was added in December’s budget.
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Note 2: The AA’s Fuel Saving Tips.