Diesel to rise by 3c, no change in petrol prices

Finance Minister Charlie McCreevy in his Budget speech this afternoon has announced an increase in the lower VAT rate for 12.5% to 13.5% from January 1st next year.

Car diesel is to go up by 3c per litre with effect from midnight and this is expected to yield €52.5m in 2003. There will be no change in the price of petrol.