Diesel and petrol prices already on the rise

First of three increases this year comes into effect

by Rose Barrett
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As excise duty on petrol and diesel has been re-introduced and effective from midnight last, motorists will experience an increase at service stations across Dublin and nationwide today.

From Thursday, June 1, petrol will increase by 6c per litre and diesel by 5c per litre, as announced by the Department of Finance in February this year with agricultural diesel to increase by one cent..

In March last, in response to crippling rise in the cost of living costs, the government announced a temporary reduction in excise duties on motor fuels (in fact, excise duty was reduced by 15c a litre on diesel and 20c per litre on petrol).

With another rise due on September 1 – an increase of 7c for petrol and 5c for diesel – commentators have said that this increase and burden on consumers who are already under pressure in a serious cost of living crisis, should have been deferred until at least the end of the year or early next year.

The Consumers Association of Ireland said the increase was not ideal, especially for many motorists in rural areas who do not have public transport. A family or individual is threrefore totally dependent on the family auto/s. Given the healthy state of the Irish government’s revenue funds, this additional charge on the end consumer (motorist) could have been withheld for now.

RTÉ News quoted Paddy Comyn of the AA as saying that busier, bigger fuel stations that receive supplies a few times a day will immediately be paying the excise increase and therefore, motorists will be paying the the higher rates from today.

A third increase will come into effect from October 31 – when excise costs on fuel will return to early 2022 levels.

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