Drivers face new rise in petrol price spiral
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.