Fuel prices are set to rise by 6c per litre of petrol and 5c per litre of diesel from midnight in Ireland, according to the latest AA fuel price survey.
A phased restoration of previously reduced rates of excise on petrol and diesel will take place in another two stages over the coming months.
The reintroduction of excise duty, which was cut by the government in March last year, will see rates restored by a further 7c for petrol and 5c for diesel on 1 September.
The government will fully restore the rates on 31 October, with a final increase of 8c for petrol and 6c for diesel.
Last month, fuel prices fell to their lowest rate in Ireland since the start of the war in Ukraine.
“We already know that, unless prices fall again, then petrol will be back up to around €1.80 per litre and diesel to €1.76 per litre by the end of October,” said Paddy Comyn, head of communications, AA Ireland, “which were the same as at the start of the Ukraine conflict.”
EV Drivers
Meanwhile, the average EV driver is paying €1,131.04 to charge his/her car over the course of the year – down from €1,138.13 in the previous month – however, those taking advantage of smart meters and cheap night rates are paying as little as €421.43 to cover the same 17,000-kilometre distance.
The AA noted that those who are charging exclusively on public chargers could be paying up to €2,150.27 per year.
With wholesale gas prices falling in recent months, EV drivers are anxiously awaiting the corresponding drop in electricity prices, which providers have yet to pass on, the AA added.
Read More: Fuel Prices Fall To The Lowest Since Start Of The War In Ukraine: AA
© 2023 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more supply chain news, click here. Click subscribe to sign up for the Checkout print edition.
