Petrol prices hit six-month high

Petrol prices hit six-month high
File photo

The cost of a litre of petrol has hit a six-month high, according to AA Ireland’s latest fuel price analysis.

While the cost of a litre of diesel fell 0.2c in the past month to 136.8, petrol prices continue to trend upwards.

According to the AA’s analysis, the national average cost of a litre of petrol currently sits at 146.1c, up almost 4c from an average price of 142.3c last month.

"Unfortunately, at the moment we are seeing significant fluctuations in the cost of crude oil and that’s having a direct effect on what motorists are paying at the pump," said Conor Faughnan, AA Director of Consumer Affairs.

"A combination of recent OPEC supply cuts along with ongoing political unrest in several oil-producing countries means that the gap between the available supply and the global demand for oil has tightened.

“Due to the current turbulence in relation to crude oil costs, different garages will be selling both fuels at different rates, depending on the cost of a barrel of oil when they bought their current supply,” Mr Faughnan added.

He also had this advice for motorists as the price of petrol rose for the third month in a row :

The important thing for motorists to remember when it comes to fuel is that you need to shop around in the same way that you do when renewing your insurance.

"Don’t fall into the habit of going to the same garage every time, but instead take note of which garage is offering the best deal in your area each time you need to fill up.”

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