The cost of diesel and petrol has increase by 11 per cent in the past two weeks, according to figures from AA Roadwatch.
The sharp jump has sent the cost of fuel at the pumps to record levels.
The average cost around the country of a litre of petrol is now €2.13, while a litre of diesel is €2.05.
Despite the record increase, Paddy Comyn from AA Roadwatch told Newstalk there does not seem to be an end in sight for the issue.
"It now costs the average motorists of a petrol car €750 more than last year to fill their car for a year, with the average diesel driver now spending €640 more per year than last year.
"Certainly, for now, it looks like there are going up significantly, judging by such an increase over the last two weeks."
"If they increase at this rate then it looks like it's only a matter of time before [average prices] reach €2.50 per litre," Mr Comyn added.