FILE PHOTO / PIXABAY
Petrol and diesel prices are set to jump by around 6 cents from tonight, as excise reductions are due to be lifted.
This reintroduction of duty will see rates restored tomorrow, June 1 by 6 cents per litre of petrol and 5 cents per litre of diesel. On the 1st of September, these rates will increase by 7 cents for petrol and 5 cents for diesel.
The Government will fully restore the rates on the 31st of October with a final increase of 8 cents for petrol and 6 cents for diesel.
The rates were reduced significantly during the cost of living crisis as fuel and electricity costs soared.
"We have not seen prices this low for petrol and diesel since September 2021, well before the start of the ongoing conflict in Ukraine, which led to a dramatic increase in fuel prices internationally," AA Ireland's Head of Communications, Paddy Comyn said recently.
However, these prices are unlikely to last as a phased restoration of previously reduced rates of excise on petrol and diesel will take place in three stages over the coming months.
“Motorists won’t be able to enjoy these prices for too long, however.
"We already know that unless prices fall again, then petrol will be back up to around €1.80 per litre and diesel to €1.76 per litre by the end of October.
"Which were the same as at the start of the Ukraine conflict,” adds Comyn.
Subscribe or register today to discover more from DonegalLive.ie
Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.
Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.