Petrol and Diesel prices rose significantly in August, figures show

Petrol and diesel prices rose sharply in August and are expected to continue rising in the coming months, according to AA Ireland’s fuel price analysis.

Diesel prices have risen to an average of €1.92 per litre in August, up 19 cents from July. Petrol prices rose to an average of €1.84 per litre, up 9 cents from July.

The AA say that a motorist filling 50 litres, they now have to pay €9.50 more for a tank of diesel and €4.50 more for petrol.

These increases are caused by wholesale market movements, it remains uncertain how much more expensive this may be once the phased restoration of excise duty from September 1.

A spokesperson from AA Ireland said: “This is a significant month-on-month increase, and motorists should understand where it has come from. Excise duty did not change during August, so what drivers are seeing at the pumps reflects global market conditions rather than any tax change. Diesel has borne the brunt of it this month.”

“The concern is what comes next. From 1 September, excise begins to be restored in stages, starting with 9 cents on petrol and 10 cents on diesel. If wholesale prices hold where they are, motorists should plan for further increases through the autumn rather than expect this month to be the peak.”