Motorists are facing a hike in the cost of refuelling their vehicles from midnight tonight, as excise rates are increased by the government.
Petrol excise rates will increase by 7c per litre while diesel will rise by 5c. Agricultural diesel will go up by 1c.
It is the second of three increases in excise, to unwind a reduction brought in March 2022 to combat soaring prices in the wake of the Russian war in Ukraine.
While the excise increases from midnight, however, price rises at all pumps will not be immediate.
That is because the excise is charged on wholesale supplies of fuel, and it may be days for many forecourts to sell their existing fuel stock, purchased at the lower excise rate.
On the other hand, some forecourts with high turnovers purchase wholesale supplies every day, and in those cases retail prices will increase almost immediately.
