Petrol prices set to jump as global crude oil surges again
Soaring world prices have been triggered by fears of a row between the US Government and Iran - the world’s fourth largest oil producer.
One filling station in north Dublin - already among the dearest in the country - is likely to be charging more than €1.30.
Unleaded petrol prices around the country are moving closer to €1.20 a litre. A Statoil station in Mountmellick, Co Laois, was charging €1.39.
Among the lowest in the capital were Spawell service station, Tallaght (€1.09) and Tesco Clearwater, Finglas (€1.09). At Roxboro, Limerick, the Statoil station was charging €1.15.
Brian Purcell of City Motor Group, which operates the Texaco outlet on Upper Drumcondra Road, Dublin, said: “By tomorrow, we’re probably going up to 130 cents per litre.
“But there is nothing we can do: our hand is forced. We’re making six cent out of this and, when we take all our operational costs out of this, we’re operating at a loss.”
Liam Brewer of the Irish Road Haulage Association, called on the Minister for Finance to reduce revenues on diesel. Their original request for a rebate was made at the time of last December’s Budget.
Mr Brewer said hauliers had no immediate fuel alternative to using diesel in their trucks. The industry was paying the highest cost of any sector for its raw materials.
Irish Petrol Retailers’ Association chief executive Oliver Lupton said we had a very serious situation in relation to the national economy.
He suggested the Government should act to protect the national interest and reduce VAT or duty on fuel.
Mr Lupton warned that fuel prices would go higher.
“We’ve had a honeymoon in Ireland in relation to the price of it, because of the competitive tactics of some of the major players.
“The price should be much higher than it is,” Mr Lupton said on RTÉ Radio.
The oil companies which had invested millions and billions in exploration, shipment and refining were not getting the return for the money they had invested.
Mr Lupton urged motorists not to panic buy.
“It’s not a question of fuel not being available,” he said. “It will be - at a price.”
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