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National: Petrol at cheapest since 2021 but hike is on the way

written by Staff Writer May 16, 2023
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Irish drivers are seeing some of the lowest fuel prices since 2021.

However, motorists have been warned to expect a hike next month.

Petrol is now an average of €1.57 (less in some places in Donegal) while diesel continues to drop with an average countrywide of €1.47 per litre.

HOwever, these prices are expected to jump next month by 7c per litre as the Government implements a phased restoration of the full excise duty on the fuel.

AA Ireland’s head of communications Paddy Comyn told independent.ie: “Prices continue to shrink across the country in May for both petrol and diesel.

“But the start of the reintroduction of excise duty will increase petrol by 6c per litre and diesel by 5c per litre on June 1, with more to follow. If fuel prices remain the same, these increases will see petrol costs increase by 3.8pc and diesel by 3.4pc on June 1.

Mr Comyn said we had known about the gradual restoration of the full excuse duty on motor fuel for some time, but it would still come as another unwelcome increase for motorists after enjoying a period of reasonably stable fuel prices.

After the June 1 increase, another one is due on September 1. That month will see petrol rise by 7c due to the higher excise duty, with 5c going on to diesel.

National: Petrol at cheapest since 2021 but hike is on the way was last modified: May 16th, 2023 by Staff Writer
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