Fuel prices jump 4% following rise in excise duty
Duty on petrol increased by 6 cents per litre and 5 cents per litre on diesel on June 1st
Fuel prices have jumped over 4% when compared to last month, following a rise in excise duty on petrol and diesel.
New figures from AA Ireland show the average price for petrol now stands at €1.65, with the average price for diesel at €1.53.
Duty on petrol increased by 6 cents per litre and 5 cents per litre on diesel on June 1st, and on average, petrol prices have increased by 8 cents per litre and diesel by 6 cents per litre.
“We did know that petrol and diesel prices were set to increase and this month’s increases are broadly in line with what was predicted, with just a slight increase compared to what we had predicted, with a 4.8% increase on petrol and 4.3% increase on diesel,” said Paddy Comyn, Head of Communications at AA Ireland.
“The price of a barrel of oil has remained quite stable over the past 30 days, so we haven’t seen too much fluctuation in pricing at the pumps,” he added.
Following the June 1st increase, on September 1st, these rates will increase by 7 cents for petrol and 5 cents for diesel.
The Government will fully restore the rates on October 31st with a final increase of 8 cents for petrol and 6 cents for diesel.