Explainer: Why are fuel prices increasing again?

In the last month, petrol prices have risen by 4.8%, with diesel prices up by 4.3%

The price of a barrel of oil has remained quite stable over the past 30 days

Fuel prices at the pump have risen by up to 4.8% compared to the same time last month, with the AA Fuel Price Survey reporting the average price of petrol to be €1.65, with diesel averaging €1.53.

The increase is largely due to a series of supports enacted by the government, which it is now cutting back on, resulting in heightened prices for consumers despite an ongoing cost of living crisis and inflation at more than 6.5%.