Subscribe

Fuel prices near stable in February ahead of duty increase

Fuel Prices
/ 20th February 2023 /
George Morahan

Fuel prices at the pump were pretty stable in February despite the EU-wide ban on importation of Russian oil products earlier in the month, according to AA Ireland.

Nationally, petrol prices increased 2.5% month-on-month to an average of €1.65 per litre while diesel prices declined 1.7% to €1.68 per litre on average.

The average petrol driver will now spend €2,003 per year on fuel, compared to €1,680 for average diesel driver, and €1,306 on electricity for the average EV driver.

It is likely that prices will rise in March by an estimated 15 cent per lite for petrol and 20 cent per litre for diesel as the government is expected to end a reduction on duty on petrol and diesel at the end of February.

The AA has urged government to stagger the increase in duty to avoid difficulties at fuel stations, and it has also called for more information on the E10 fuel blend ahead of its introduction in Ireland.

In Association with

Fuel Prices
Fuel prices were more or less stable in February. according to AA Ireland. (Pic: Getty Images)

A recent AA Ireland Twitter account survey showed that 91% of respondents had never heard of the fuel," said Paddy Comyn, head of communications at the AA Ireland.

"Also, we need clarity around the possible switching off of the excise duty reductions overnight, which will inevitably lead to anxiety leading up to the end of February, which could lead to tailback filling stations or pumps running dry in certain areas.

"A more prudent approach would be to stagger this over two to three months."

(Pic: Getty Images)

Sign up to The Business Plus Panel to help shape the business decisions of tomorrow and win vouchers for your opinions! 
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram