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Average Motorist Paying Up To €700/Year More On Fuel Than 2020

RedFM News
RedFM News

06:55 23 Mar 2022


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The average motorist is paying up to 700 euro a year more on fuel than they did in 2020.

The AA says petrol prices are 62 cents per litre higher than two years ago, and 70 cents higher for diesel.

Fuels for Ireland, a representative body for the industry, says the timing of the excise duty cost suppliers.

It's CEO is Kevin McPartlan - he says the cut in tax wasn't going to eradicate price rises:

"In the 13 days between the start of the conflict and the government announcing an Excise Duty reduction, the wholesale market prices had increased by 26% per litre on gasoline and 45% per litre on diesel. When VAT is applied, petrol ultimately cost 'Fuel for Ireland' members 32 cents more per litre and diesel 55 cent more per litres to bring to consumers. While the cuts succeeded in blunting the price rises, they were never going to entirely eradicate or reverse them."


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