Petrol and diesel prices rise after four months of falling

Michael Bolton

Petrol and diesel prices have risen over the last month after four months of falling prices.

The AA Ireland February Fuel Price Survey shows petrol prices have risen by three cents per litre to €1.71 per litre.

Diesel has risen by four cents from €1.68 to €1.72 per litre in February.

There has been a fall in prices for electric vehicle owners, with the price of charging an electric vehicle dropping to €900.43, a drop from the average December price of €967.

The price of crude oil has risen slightly to €76.70 per barrel.

Speaking on the fuel rises, Blake Boland, Head of Communications for the AA Ireland said: "Motorists in Ireland are feeling the pinch at the moment with consistent increases in the cost of running a car in recent years. We had a steady drop in fuel prices over the last four months. We are disappointed to see that trend coming to an abrupt halt.”

“Further instability in oil-producing regions and the ongoing conflict in Ukraine could shift the price of crude oil. We saw global stocks reducing in January, and any disruption of supply could raise prices further.

"We are also edging closer to the phased re-introduction of Excise Duties that were postponed late last year. They will ultimately see prices rising by eight cent per litre for Petrol and 6c per litre for Diesel.

‘With the wholesale price of electricity coming down steadily last year and this year, EV drivers are seeing the benefits in their pockets. We anticipate that electricity providers will continue to pass on the reduced costs to the motorist."