In AA Ireland’s recent findings, it has been disclosed that petrol and diesel prices have reached their highest points this year.
This escalation comes after a period of fluctuation. Prices rose following a dip in March.
According to a recent survey, the cost of petrol has reached €1.81 per litre, and diesel prices have climbed to €1.78 per litre for April.
These figures show a significant increase compared to the previous months. Petrol prices have spiked by almost 13 cents since the beginning of this year, while diesel prices have risen by nine cents over the same period.
The surge in fuel prices can be attributed to the reinstatement of excise duty, effective April 1. Excise duty is a fixed charge applied per litre when selling mineral oils, cigarettes, and alcohol. As the law mandates, retailers must include this duty in the pump price.
The government plans to fully restore excise duty rates by August 1, with an anticipated increase of four cents on petrol and three cents on diesel.
Additionally, a carbon tax is slated for implementation in October, further exacerbating the upward trajectory of pump prices in the latter part of the year.
Despite the notable uptick in traditional fuel costs, electric vehicle (EV) fuelling expenses have shown relative stability this month.
With a marginal increase of just €1 per year, EV owners can expect to pay around €926 annually to cover the national average distance of 17,000 kilometres per year, compared to last month’s figure of €925.
Jennifer Kilduff, Head of Marketing & PR at AA Ireland, stressed the importance of consumers exploring all available options amidst escalating fuel and living expenses.
Regardless of vehicle type, Kilduff urged drivers to reassess their driving habits, prioritise vehicle maintenance, and regularly monitor tyre pressure as effective strategies for mitigating fuel costs.
Furthermore, Kilduff referenced an experiment by The AA, which revealed that reducing motorway speeds from 120km/h to 100km/h could result in up to 29% fuel bill savings.
This underscores the potential impact of straightforward adjustments in driving behaviour on overall fuel expenditure.
The findings from the AA Ireland survey highlight the ongoing challenges consumers face in managing their transportation expenses amid fluctuating fuel prices and evolving government policies. With petrol and diesel costs reaching yearly highs, individuals are urged to adopt proactive measures to navigate the economic landscape effectively.
