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Irish Petrol Prices : November 2022

Petrol Diesel
Pump price 177.4c 196.16c
Price before taxes are added 79.4485c 105.4476c
Breakdown of taxes x 3:
1. Excise (including carbon)* 62.771c 51.902c
2. Nora** 2c 2c
3. VAT (23%) 33.1704c 36.6504c
Total taxes 97.9415c 90.5524c
Average price of a barrel of oil (accurate as of 21st November) $88 $88
Currency exchange rate – US$1 to Euro (accurate as of 21 Oct) €0.95 €0.95
Tax as % 55.21% 46.20%

Click here for historical Irish fuel prices (PDF)

* Excise is a duty that is added to the sale of mineral oils, cigarettes and alcohol. It is a fixed amount which is charged per litre and hence does not change as the price fluctuates. Carbon Tax is effectively the same although it is calculated per ton of CO2 generated. It works in precisely the same way as excise duty and really has nothing to do with carbon, and in fact data from Revenue normally lists Excise Duty and Carbon Tax together as one total.

** National Oil Reserves Agency (NORA) is a tax that is added to all oil fuels to ensure that Ireland meets its EU obligations of keeping a 90 day stock of oil in the event of a shortage.

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