Fuel prices close to hitting record monthly highs, despite excise duty cuts

Overall, the cost of petrol has risen 26.5% over the past year. The cost of diesel has risen 37.5%. Picture: Lewis Whyld/PA Wire

The cost of petrol and diesel in Ireland is close to hitting a record average monthly high, despite the Government's move to cut excise duties on fuel in March.

According to a new survey from AA Ireland, the cost of running an average car in Ireland now around €500 more expensive than it was just last year.