Motorists warned of rising petrol prices

DESPITE a continued fall in the price of crude oil, motorists are being warned to expect a continued “slow increase” in the price of fuel because of fluctuating currency values, as well as the recent introduction of a carbon tax.

Petrol is now averaging at nearly €1.28 a litre, up 24c from last year, while diesel prices are also steadily rising and now average almost €1.18 a litre.

Industry experts say that despite the low cost of a barrel of oil now compared to recent years, factors outside of the control of retailers and consumers are steadily pushing up prices.