Wednesday, December 6, 2023
9.3 C
HomeFarming News‘Record high’ fuel prices are ‘only going to continue to rise’
Catherina Cunnane
Catherina Cunnane
Catherina Cunnane hails from a sixth-generation drystock and specialised pedigree suckler enterprise in Co. Mayo. She currently holds the positions of editor and general manager at That's Farming, having joined the firm during its start-up phase in 2015.
Reading Time: 2 minutes

‘Record high’ fuel prices are ‘only going to continue to rise’

According to data from the AA, average fuel prices for petrol and diesel are at a “record high” in Ireland.

Its figures show that the average price for unleaded petrol now stands at 172.6c/L.

Meanwhile, the average price of diesel is 163.3c/L. The AA claims that this is the highest price since it started recording the figures in 1991.

The association pointed out that these figures equate to a 27% increase in petrol and a 28% increase in the price of diesel fuel compared to this period in 2020.

Fuel prices in Ireland

AA Ireland head of communications, Paddy Comyn, said:

“We are now seeing record high fuel prices in this country. It is very worrying for everyone, but especially lower-income families in rural areas who are unsure whether they will be able to afford fuel for their cars or even heat their homes.”

- Advertisement -

He said a combination of factors has led to an increase in fuel prices globally.

Comyn pointed out that oil production plummeted during the height of the COVID-19 pandemic worldwide and has still not entirely recovered.

It recently reached $85 per barrel, but has since settled under $80.

“In Ireland, around two-thirds of the price motorists pay at the pump is tax. It can take two weeks for any reductions to reach the pumps.”

Ever-increasing cost of motoring

“The cost of motoring in Ireland is ever-increasing. While there is a move to shift motorists into electric vehicles, it does appear to be at the expense of lower-income families and motorists.”

“It’s very expensive when you have a family trying to budget and pay their mortgage, groceries and general expenses.”

“People in rural Ireland rely on their cars. They don’t have the public transport infrastructure to support their daily lives,” added Comyn.

He said it is also “very frustrating” for students who are trying to juggle fees, rent and now fuel for their vehicles while often working part-time jobs.

“Prices are only going to continue to rise until something is done. Changes need to be made, particularly in the area of taxation,” he concluded.

Other articles:

- Advertisment -

Most Popular