Petrol prices have also increased, but not as much as diesel, reports Independent.
The latest survey data from AA Ireland shows that petrol and diesel prices are rising in contrast to last month when prices were stable.
Petrol prices rose 3 percent from last month to the beginning of this month, with the average cost per litre rising from €1.65 to €1.70. But the price of diesel fuel has increased even more. That’s up nearly 6 percent, or 9 cents a litre, from the previous month’s average.
The fuel price survey is due to be published later this month, but the motoring agency released the index figures at the request of the Irish Independent.
Mr Boland said: “We have seen a jump in the raw materials increase steadily over the past few months and they are now at the highest they have been so far in 2023. This is hopefully close to where oil prices will top out this year. But there are still some of the signalled duty increases to follow,” reports Independent.
Chief executive Kevin McPartlan said it was important to remember that this is just one factor that determines the price you pay for petrol, diesel and heating oil for your home.
“The other significant factor in the last month is the markets’ response to signals from Opec that supplies of fuels will be restricted in the coming month – signals which lead traders to price in additional risk into wholesale prices,” reports Independent.
“Add these factors to the same rising costs of doing business that every sector in Ireland is facing, and you can understand why pump prices are higher than in recent months,” he said, reports Independent.
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