Strength of euro cushions Irish consumer from surge in oil price

THE fall in the value of the US dollar has saved Ireland from the worst effects of the oil price surge, the latest AA fuel price survey shows.

The national average price of a litre of petrol has increased to 102.1 cent. The AA had predicted that it would go above 105 cent five weeks ago.

Although the price of oil has remained fairly high, the value of the euro has risen sharply against the dollar.