Motorists To Face Price Hike In Petrol & Diesel

Motorists are to face an increase in the cost for refuelling their vehicles, as the Government increased the excise rates, as of midnight last night.

While the price in pumps would not be immediate, petrol excise are to increase by 7c per litre, with diesel prices spiking by 5c. Agricultural diesel will also increase 1c.

These increases were to unwind a reduction which was brought in in March last year, to combat the huge increase in prices, following Russia's invasion of Ukraine.

The excise is charged on wholesale on fuel suppliers, and it may take days for many forecourts to sell existing fuel stock, which was purchased at a lower price.

Some forecourts with high turnovers also purchase these supplies each day, and these cases retail prices will also increase instantly.

These increases will take place, despite repeated calls on the Government to call it off, or at least delay them for another year, including Independent TD Michael McGrath, who called for them to be scrapped completely.

The Irish Farmer's Association also called for these price hikes to be suspended immediately.