Irish motorists are paying 30 per cent more for petrol and diesel than they were at this time last year. In spite of recent falls in price at the pump, the cost of fuelling a car has remained stubbornly high. Most of the price increase is down to Russia's invasion of Ukraine, and the subsequent fall-off in oil exports, as well as continuing post-pandemic production shortages from some of the major OPEC producers.
Currency fluctuations
Of course, there's also currency factors to consider - the Euro currently sits at a historic low against the US Dollar, and guess in which currency we buy crude oil, at wholesale?
AA Ireland has found that average price for petrol across the country stands at €1.84 per litre, with diesel now at €1.95 per litre. Petrol is on average, 18 per cent more expensive than in September 2021, with diesel just under 30 per cent more expensive than in September 2021.
€440 increase in annual costs
According to the motoring organisation, it now costs the average motorist with a petrol car €2,234 to fill it annually, at current fuel prices, €346 more than in September 2021. It costs the average motorist with a diesel car €1,940 to fill it annually at current fuel prices, €440 more than in September 2021.
Added pressure
"Fuel prices are broadly where they were in March this year, which at the time were record prices for petrol and diesel in Ireland. They did go on to peak in June of this year at €2.13 for petrol and €2.02 for diesel, but with increases in energy prices across the board, these prices will remain a source of worry for many Irish motorists," said AA Ireland Head of Communications, Paddy Comyn. "With home heating costs likely to be higher than expected this year, for those people that depend on their car, there will be added pressure. We would hope the Government would take this into consideration in the forthcoming budget."