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Sunday 19 November 2017

Petrol prices on way up, drivers have been warned

Petrol prices are on the rise
Petrol prices are on the rise
Charlie Weston

Charlie Weston

DRIVERS have been warned to expect to pay more for petrol and diesel, with prices already rising in some parts of the country.

Petrol retailers have begun to push up prices at the pumps despite continued low crude oil costs.

The move has been criticised by consumer groups.

Record falls in the price of crude oil had seen the average driver paying around €40 less a month for petrol and diesel.

But drivers reported at the weekend that some retailers have begun to raise their prices.

Petrol retailers blamed the weakening of the euro against the dollar.

Crude oil is priced in the American currency.

AA Ireland's Conor Faughnan warned drivers to now expect to end up having to pay between 2c and 3c more a litre over the next few weeks.

"Oil prices have reached the bottom. We had six months of falls, but that is now over, prices will trend up again.

"Drivers can expect to pay between 2c and 3c more per litre over the next week or so," Mr Faughnan said.

Irish Independent

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