Monthly increase in fuel prices at highest level for nearly two years

The AA says both petrol and diesel prices have jumped by around 5c per litre within the last month

Monthly increase in fuel prices at highest level for nearly two years

File photo. Picture by Laura Hutton/RollingNews.ie

Fuel prices have seen their biggest monthly increase in nearly two years, according to figures released today.

The AA says petrol and diesel are up by around 5 cent a litre when compared to December.

The figures show that petrol currently costs an average of 136.3c per litre, while the same amount of diesel costs an average of 126.9c

Petrol prices are now at their highest since March 2015, with diesel at the highest price level since August 2015.

Conor Faughnan, Director of Consumer Affairs at AA Ireland, said: “While it’s impossible to know what the long-term future holds when it comes to fuel prices, currently all the factors which inform prices are trending into the wrong direction for motorists.

“We have little no influence over the international events that affect fuel prices. But we do control Irish taxation and that is actually where the real damage is done. 63% of the price of petrol is tax, and 58% for diesel. That’s excessive," he argued.