Petrol and diesel prices are up for the fourth month in a row.
According to AA Ireland's latest fuel price study, the average cost of a litre of petrol is 138.9. That's an increase of over 5 cent on last month.
Meanwhile, diesel prices have risen at a similar rate climbing to a current average price of 129.8 cent per litre.
AA Ireland says it's due to an increase in crude oil costs and the return to the 23 percent VAT rate.
Conor Faughnan, AA Director of Consumer Affairs stated that although the decision to end the reduction in VAT at the start of March had been known in advance, the impact of COVID-19 should have been taken into account.
“Given that many families across the country are still dealing with the financial impact of COVID-19 a continuation of the lower rate, for at least as long as Level 5 restrictions remain in place, may have made more sense,” he said.
The increase means that the price of petrol and diesel is now at the highest level since COVID-19 restrictions were introduced in 2020.
Despite this, both fuels remain below the per litre cost seen at the start of last year.
In January 2020, the AA’s monthly fuel study found that a litre of petrol cost 144.5c per litre on average, with diesel costing 135.9c per litre.
