Cost of petrol and diesel continues to rise, survey finds

Oil prices is seen as the main factor in the latest increase in fuel costs

a
 

The average cost of a litre of petrol and diesel continued to rise last month, according to a survey by AA Roadwatch.

A litre of petrol now costs an average of 138.3c while diesel car owners can expect to spend 127.1c per litre of fuel.

Both fuels ended 2017 at their highest per litre price in the past 12 months with petrol now its most expensive since August 2015.

The continued rise in oil prices is seen as the main factor in the latest increase in fuel costs, with the cost of a barrel of oil floating between $62 and $68 from early December and into January 2018.

Conor Faughnan, AA Director of Consumer Affairs said the increasing cost of a barrel of oil “is a cause for concern”.

“Since August of last year we have seen continued, incremental monthly increases in the cost of both fuel and diesel meaning more and more motorists are now feeling the pinch when it comes to covering their commute to work.

“While the future of motoring will be less reliant on fossil fuels, in the meantime people still need to be able to afford the cost of their commute to work.

“For some there are alternatives, such as public transport or cycling, but these aren’t feasible for everyone and particularly not for those living in rural Ireland where the public transport options simply aren’t there.”

An average motorist who drives 12,000 miles per year (19,200km) at a fuel consumption rate of 30 miles per gallon (9.42 litres per 100km) will use 150 litres of fuel a month, according to the AA.

At current prices that motorist will pay €207.45 per month for petrol and €190.65 for fuel.

a