Average fuel prices for Petrol and Diesel are at a record high in Ireland according to data collated by AA Ireland.
The average price for Unleaded Petrol now stands at 172.6 cents per litre in the state, with the average price of Diesel now at 163.3 cents per litre. The prices are the highest AA Ireland has seen since we started recording the figures in 1991.
These figures equate to a 37% increase in Petrol and a 39% increase in the price of Diesel fuel compared to this time last year.
“We are now seeing record high fuel prices in this country. It is very worrying for everyone, but especially lower-income families in rural areas who are unsure whether they will be able to afford fuel for their cars, or even heat their homes,” says AA Ireland Head of Communications, Paddy Comyn.
A combination of factors has led to the increase in fuel prices globally. Oil production plummeted during the height of the COVID-19 pandemic worldwide and has still not entirely recovered. Recently, the price of a barrel of oil reached $85, but has since settled under $80.
But in Ireland, around two-thirds of the price motorists pay at the pump is tax - and it can take two weeks for any reductions to reach the pumps.
“The cost of motoring in Ireland is ever-increasing and while there is a move to shift motorists into electric vehicles, it does appear to be at the expense of lower income families and motorists.”
“It’s very expensive when you have a family trying to budget and pay their mortgage, groceries and general expenses. People in rural Ireland rely on their cars. They don’t have the public transport infrastructure to support their daily lives,” adds Comyn.
“It is also very frustrating for students who are trying to juggle fees, rent and now fuel for their vehicles, while often working part-time jobs.”
“Prices are only going to continue to rise until something is done. Changes need to be made, particularly in the area of taxation.”