Petrol and diesel rise to highest for 18 months

Fuel is costing Irish motorists more than it has in 18 months even as crude oil prices continue to fall.

Despite crude oil prices having fallen sharply in recent weeks, a litre of petrol cost €1.38 on average, while diesel costs €1.27, according to the latest monthly survey from AA Ireland.

Fuel costs have now reached their highest level since August 2015 and mark the sixth successive month that costs for motorists have risen. It is generally accepted it takes a number of weeks before motorists see fuel costs fall following a drop in the price of oil. AA director of consumer affairs Conor Faughnan said taxes on fuel here were a major contributory factor to higher prices, not just oil prices.