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Thursday 19 October 2017

Shortage fears spark rise in price at pumps

Ailish O'Hora

Ailish O'Hora

Fears that the Europe-wide cold spell could result in a shortage of oil has sparked higher prices on Irish forecourts.

A litre of petrol now costs an average 140.1c per litre, up 9c on last month -- more than double the 4c hike in the Budget.

Price rises were mainly being driven by increases in the wholesale price of refined gasoline and diesel, as the cold weather swept across northern Europe.

The price of a barrel of oil has risen from $84 to over $91.

"With the exception of the tax increase, the factors pushing up the price are outside of Irish control and indeed are affecting fuel prices all across Europe," said Conor Faughnan, director of price policy at AA Roadwatch.

A recent survey by the Irish Independent showed that a number of garages around the country charged over 140.1c, and one Dublin filling station charged €1.429 per litre.

Tipperary drivers had access to the lowest priced petrol in our survey at just €1.327 at an Amber service station on Bansha Road.

Diesel prices varied from €1.288 to €1.349 a litre.

Meanwhile, households in the west of Ireland have become victims of a gang stealing from home fuel tanks.

Gardai believe that the thieves drive up near houses and then use extended pipes to remove the fuel.

"We would ask people to be on the lookout for suspicious vehicles," said a garda spokesman.

Irish Independent

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