03 Jul 2022

Petrol and diesel charges reach record highs after two week surge

Petrol and diesel charges reach record highs after two week surge

The average price of petrol is now €2.13 per litre while diesel comes in at €2.05 a litre

Soaring fuel costs have led to record-high charges at pumps with diesel and petrol prices rising by 11c and 22c a litre respectively in the past fortnight alone.

The average price of petrol is now €2.13 per litre while diesel comes in at €2.05 a litre, a 45% increase on diesel prices for last year. 

It will now cost €750 more this year to fill a petrol car than the annual fuel cost last year, according to the latest survey from AA Ireland.

Tax on each litre of petrol comes in at 104.64c and 92.24c per litre of diesel. This is made of up VAT, excise and a national oil reserves agency (NORA) tax. 

Because of the rising costs, the AA Roadwatch survey found 1 in 10 have switched their mode of transport to walking instead of driving and 9% have started using public transport.

When asked what would help rising costs, 37% of respondents said they want to see a reduction in Value Added Tax (VAT), 1 in 5 want to see carbon tax reduced, 3 in 10 want further cuts to excise duty, while 23% of respondents want all tax removed from fuel. 

35% of respondents want a temporary price cap introduced, 23% want more incentives for purchasing electric vehicles while 23% want proper alternative options such as public transport.

The survey exposed how high fuel costs are affecting people’s daily lives; 42% said what the spend on their weekly food shop has been affected and 49% said the costs have forced them to cut out fun or pleasurable activities with their family.

When asked if they will ‘staycation’ this year, 3 in 10 said they are less likely to holiday in Ireland, while 18% will holiday abroad instead. 

The survey results come as petrol prices have increased by 11.5% in the last 2 weeks, up from an average of €1.91 per litre to €2.13.

This is 41% more expensive than last year and 66% more expensive than two years ago. Diesel is now 45% more expensive than last year, jumping from €1.41 per litre to €2.05 per litre.

Figures from the AA show it now costs the average motorist €750 more than last year to fill their petrol car for the year, with the average diesel driver now spending €640 more per year compared to 2021.

“We are reaching very worrying levels in terms of fuel costs and the survey shows that these fuel costs are affecting other areas of family life, such as food shopping and family activities,” said AA Ireland spokesperson, Anna Cullen.

“Where people can, they should use public transport, walk and cycle, but this isn’t always possible in rural areas, where public transport options can be limited,” Ms Cullen said. 

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