Forecourt retailers have said they expect diesel prices at the pump to rise by around ten cent per litre by this weekend.
The Convenience Stores and Newsagents Association (CSNA) said the wholesale price of diesel being delivered to forecourts today is eight cent (plus VAT) higher than yesterday’s deliveries.
As a result, the CSNA – which represents over 1,500 retailers including 300 filling stations – expects to see this increase reflected on many forecourts across the country.
It could see diesel prices rise from roughly €1.70 to above €1.80 per litre at a lot of pumps.
Meanwhile, the price of wholesale petrol delivered today is up by around two cent per litre, which should also feed through to pump prices for motorists in the coming days.
In April, in response to surging oil prices, the Government lowered the excise duty by 32 cent on a litre of diesel and 27 cent on a litre of petrol.
Those reductions will remain in place until the start of September, before being unwound in four phases.
Industry body Fuels for Ireland has called for an independent expert group to be established to examine Ireland’s long-term approach to fuel taxation.
Fuels for Ireland Chief Executive Kevin McPartlan said such a group should “bring together expertise from Government, industry, and consumer representatives would allow for the development of an evidence-based framework that balances affordability, energy security and decarbonisation.
“Rather than responding to each global crisis as it emerges, Ireland has an opportunity now to develop a clear, long-term strategy that provides certainty for consumers, businesses and policymakers alike,” he added.
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