Mid-East unrest: Oil price rockets

THE unrest in the Middle East has put the price of a barrel of oil at a two and a half year high of $108 per barrel, raising fears the cost of petrol could rise yet further.

Conor Faughnan of AA Roadwatch pointed out that even though the price reached $150 per barrel in 2008, the price at the pump to the Irish consumer only hit €1.35 per litre.

He pointed out that due to the taxes introduced by the outgoing Government in the interim, even though the cost of a barrel is still barely over $100 the price at the pump is €1.45.