According to a national survey conducted by the IFA, fuel prices have increased by over 30% in Ireland.
IFA farm business chair, Rose Mary McDonagh, has described the price hikes as “significant”.
“Fuel prices have increased by over 30% compared to this time last year, which can be attributed to the recovery in crude oil prices.”
The spot price for a barrel of crude oil collapsed to $20 at the start of the COVID-19 pandemic last year. However, it has steadily returned to pre-pandemic price levels this month ($65-$70).
She said the rise in fuel prices reflects the latest CSO figures on agricultural input prices which demonstrated that farmers are “caught in a classic cost-price squeeze”.
“The rise in input prices without a corresponding increase in output prices means that the difference is coming out of farmers’ pockets, and impacting on their bottom line.”
Price of white diesel, green diesel and kerosene
The farm group completed a national survey on the price of white diesel, green diesel and kerosene.
The average prices quoted (including VAT) were as follows:
- White diesel – €1.31/litre;
- Green diesel – €0.69/litre;
- Kerosene – €0.65/litre.
According to its findings, there were variations of over €0.09/litre (incl. VAT) between the counties surveyed.
The group revealed that on 1,000 litres of green diesel (incl. VAT), the saving could be as high as €98.
Shop around for fuel
Allowing for outliers, there is little price variation across the country compared to this time last year. Notwithstanding that, IFA is reminding its members that it pays to shop around for fuel.
McDonagh added that some suppliers indicated that purchases in larger volumes tend to work out cheaper, particularly if paying on the day. Purchasing groups tended to receive the keenest quotes.
“Further discounts can be secured when ordering fuel online,” Rose Mary McDonagh of the IFA concluded.