Value of fuel sales jumps 7.7% in March as energy price inflation hits

The euro value of Irish retail fuel sales, including diesel and petrol, surged by 7.7 per cent in March from February, according to provisional data from the Central Statistics Office (CSO), underlining the initial impact of the global energy price shock from the US-Israeli attack on Iran.

Irish fuel sales values were also up 10.5 per cent in March compared with the same month last year, the statistics agency said.

Fuel sales volumes, meanwhile, increased by just 0.1 per cent from February and 1.4 per cent on an annual basis.

“This divergence of value and volume reflects the inflation currently being experienced in the sector,” said Tommy Allen, a statistician in the enterprise statistics division of the CSO.

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Most key energy products have been impacted by soaring global crude oil and natural gas prices since the start of the US-Israeli war with Iran.

Separately on Wednesday, the CSO estimated that energy prices have climbed by 15.5 per cent over the last 12 months and by 2.6 per cent in April alone.

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On Tuesday, the CSO said Irish wholesale electricity prices climbed by 19.2 per cent last month compared to February.

Ireland relies on imported natural gas for about half its energy needs and is therefore highly exposed to turmoil in international energy markets.

The CSO said its wholesale price index for all energy products purchased by the manufacturing industry increased by 15.2 per cent between February and March, but was still 0.2 per cent lower than March 2025.

Overall, retail sales volumes increased by a modest 0.2 per cent from February to March and 1.6 per cent in the 12 months to the end of March, according to the provisional figures, which are subject to future revision.

The CSO said the value of retail sales increased 0.5 per cent in the month and 3.8 per cent from March 2025.

Bar sales declined 2.7 per cent in March from February, despite the traditionally busy St Patrick’s Day period falling within the month, but were up by 0.4 per cent year-on-year.