Diesel is close to €2 per liter after the increase in prices at pumps

Diesel could reach €2 per liter at the gas station in the coming days.

Fuel prices across the country are expected to return to record levels over the next week, ending the government’s cut of 20 cents a liter on gasoline and 15 cents on diesel.

An independent irish The fuel survey in Ireland over the last five days has found diesel and petrol prices slowly approaching the €2 per liter mark.

The average price of a liter of diesel in Dublin is €1.97, 2 cents more than the national average of €1.95.

At the end of this working week, the highest diesel prices, in the counties of Westmeath and Dublin, had reached €1.99 per litre.

By comparison, the national average price for diesel in April stood at €1.90 per liter and €1.80 for petrol.

And while national gasoline prices are relatively flat, they’ve also risen significantly, 6 cents a liter in the last four weeks.

The national average for a liter of petrol is now €1.86, but is averaging €1.88 in counties Cork and Kildare and €1.87 in Dublin.

In the last six months, fuel prices have skyrocketed, with gasoline rising 14 cents and diesel 32 cents.

Our survey reveals how the 20p per liter cut on petrol and 15p on diesel mandated by Cabinet in March, following record rises in fuel costs, has all but disappeared as prices continue their upward trajectory.

AA Ireland’s Paddy Comyn warned that fuel prices are likely to continue to rise for the foreseeable future.

It comes as Ireland faces the highest rate of inflation in decades.

While regional price differences are marginal, Dublin and the surrounding counties of Westmeath and Kildare recorded the highest diesel prices.

The counties of Cork, Westmeath, Kildare and Dublin recorded the highest petrol prices.

An in-depth survey conducted by the independent irish last November found that fuel prices had reached an all-time high in Ireland.

At that time, the average price of gasoline was €1.72 per liter, while diesel cost €1.63.

There was a stark contrast between fuel prices in 2021 and 2020, when the national average cost of a liter of unleaded petrol was €1.25, while diesel was €1.17.

Comyn warned that there is no end in sight to rising fuel prices on the concourses.

“Unsurprisingly, we are seeing prices rise again, given the potential for restrictions on Russian fuel,” he said.

“I think this will significantly affect diesel prices, which, looking at the evidence, are approaching the €2 mark again.

“It’s hard to put a time frame on it, but we hope to see you soon.

“I think we will see a bigger difference between diesel and gasoline, and gasoline will remain reasonably stable.”

Kevin McPartland, chief executive of Fuels for Ireland, the body that represents Irish companies that import, refine, distribute and market liquid fuels, said the Russian invasion of Ukraine was at the heart of the price spike.

“The impact of the Russian invasion of Ukraine continues to have a massive impact on the price of fuel that consumers pay,” he said.

“As companies and governments impose restrictions on Russian imports, fuel supply lines are tightening, while demand is rising as some electricity generators in the EU switch from Russian gas to oil for their supplies. power plants.

“The impact is most severe on home heating oil because a much larger proportion of the price consumers pay is made up of inventory costs, whereas about 80 cents a liter of the pump price for home heating fuels road transport goes directly to the Government. .”

The latest figures from the Central Statistics Office show that the annual rate of price growth in the Irish economy was 7% last month following surges in energy, fuel and grocery prices.

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