Motorists forking out at extra €10 for a tank

How petrol and diesel costs have soared in 2 years

MOTORISTS with diesel cars have seen the cost of filling their tanks rocket by more than €10 a time in just two years, the latest price check reveals.

And petrol car owners fared little better, paying almost €8 extra for a tank of fuel.

Diesel prices have soared more than 20c a litre as fuel prices continue to rise, according to the latest AA fuel price survey.

Diesel averaged at 105.4 cents a litre in February 2016 – with some garages even charging 99.9c.

But the latest AA fuel price survey tells a different story, with prices now averaging 127.1c a litre. This means it costs an extra €10.85 to fill a 50-litre tank compared to February 2016.

The story is almost as painful for petrol drivers. In February 2016, they could expect to pay 121.9c but this has now risen to 137.6c – an increase of almost 16c per litre, adding €7.85 to the cost of filling a 50-litre tank.

But drivers who shop around can save up to 7c per litre.

AA director Conor Faughnan said prices ranged from more than 4c below the national average to more than 3c above.

The latest rises bring an end to a brief reprieve for motorists after prices fell last month, marking the first drop at the pumps since July 2017, said the AA.

Mr Faughnan said: ‘Motorists would have been hoping the dip in pump prices we saw last month was the beginning of a new trend, but unfortunately it appears that was the exception, not the rule.

‘While prices are still down slightly on their 2018 highs, many motorists will be feeling the effect of rising prices and the ever increasing cost of commuting.’

Among the key reasons for the latest spike in fuel prices is a continued increase in the cost of crude oil. Having fallen to below $64 per barrel in early March, crude oil prices have rebounded and are currently floating between $70 and $72 per barrel.

Mr Faughnan said: ‘What is very much under our control is the crazily high rate of tax we put on both petrol and diesel.

‘If we want to avoid people finding themselves in a situation where they struggle to afford the cost of commuting we need to reassess our current tax rates on fuel or see Government commit to seriously improving public transport in cities across the country and in rural Ireland.’

The Irish Petrol Retailers’ Association, which represents independent forecourts, blamed ‘sabre-rattling’ in the Middle East for the rise in crude prices.

‘Any sign of discontent in this region is usually bad news for oil prices as the threat of reduced supply spooks the market and pushes prices up,’ said a spokesman.

‘Ever-rising cost of commuting’