Drivers face new rise in petrol price spiral
Published 25/05/2011 | 05:00
MOTORISTS were last night warned they face the prospect of another rise in petrol prices, even though the average cost of filling the tank has already soared to a record €230 a month.
New figures from the Automobile Association(AA) show that petrol prices increased by 2.6c during May to an average of €1.533 a litre.
Diesel prices eased slightly, falling to €1.46 a litre, according to the survey of 150 stations carried out last week.
The impact for the average family car would be to push the monthly fuel bill to €229.95, the AA said.
If prices remained at this level for a full year, that would give an annual fuel bill of €2,760 compared with €2,300 in 2010.
"We saw a slight decrease in prices generally during May that was driven by the reduction in global oil prices during the middle of May," said Irish Petrol Retailers Association spokes- man David Blevings.
"Unfortunately since then the refined product price of fuel has risen and the value of the euro has decreased, which will mean further increases," he said.