Diesel & petrol prices hit highest level so far this year

April 20, 2024

The latest AA Ireland fuel price survey shows that petrol and diesel prices have hit their highest level so far this year.

AA Ireland said that petrol and diesel prices have increased over the last few weeks after a fall was reported in March.

Petrol prices rose to €1.81 a litre in April, while diesel prices moved up to €1.78 a litre.

Petrol prices are up almost 13 cent since January, while diesel prices have risen by nine cent.

The AA said that fuel prices rose after the first re-instatement of excise duty which came into effect on April 1.

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 does not change as the price fluctuates. Retailers have no choice but to add this on at the pump as it is a legal requirement.

The Government will fully restore the excise duty rates on August 1 with a final increase of four cent on petrol and three cent on diesel, while a carbon tax is also expected in October. These will push up prices at the pump later in the year.

Meanwhile, electric vehicle fuelling costs this month remains relatively steady with a marginal increase of €1 per year. The AA said this means EV owners can expect to pay about €926 a year compared to last month’s €925 to cover the national average of 17,000km per year.

Jennifer Kilduff, Head of Marketing & PR for the AA Ireland, said that with rising costs of fuel and the cost of living in general, it is important that customers consider all options when deciding to keep or change their current vehicle.

“Whether driving an internal combustion engine or an EV, drivers should review their driving habits, reducing speed, keeping their vehicle well maintained and regularly checking tyre pressure are just some things motorists can do to save on fuel,” she said.

“An experiment carried out by The AA showed that by reducing your speed on the motorway from 120km/h to 100km/h could reduce your fuel bill by up to 29%,” she added.

Article Source – Diesel & petrol prices hit highest level so far this year – AA Ireland – RTE

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