Fuel prices increasing again, says survey

Fuel prices increasing again, says survey

Fuel prices are increasing again after prices actually fell for the first time in eight months in June, according to a new report.

The average price of petrol across the country this month has risen by 0.6c to €1.33c per litre according to the latest fuel price survey from the AA.

Diesel prices also rose slightly by 0.9c a litre in the last month to an average of 124.9c.

“Rising fuel prices have been a feature of 2010,” said AA Ireland director of policy Conor Faughnan.

“After a brief respite in June, the trend is upwards again. Petrol is up over 10c per litre and diesel 9c per litre in the last six months.”

The situation is worse in many other European countries, however. Prices in Germany, UK, Portugal, France, Madeira and Italy are all significantly higher than current Irish fuel prices. Motorists planning a trip to the UK also face significant fuel hikes of 6.4% higher for petrol and a 16% increase on diesel.

The price of a barrel of oil rose slightly in recent weeks costing approximately $73.93 in July, up $1.72 in June. Oil prices had dropped significantly in recent months by $10, but the Euro also weakened against the US dollar which cancelled the effect somewhat.

The AA survey found variations in petrol prices of more than 10% across the country from 126.9c per litre to 139.9c.

Diesel fluctuated by 9% from 118.9c to 129.9c.

The AA is today reiterating its advice to motorists to shop around for fuel.

“The consumer’s best defense against rising prices is to shop around,” said Faughnan.

“You can save yourself money, but just as importantly it encourages competition in the market.”


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