An Israeli attack on a key gas field owned by Iran and Qatar in recent days has had a ripple effect on fuel prices globally, not least for Irish motorists at the pump
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Prices at the pump are down 40pc to 50pc from the peak at the beginning of Russia’s invasion of Ukraine. Photograph: Reuters
Fuel prices have once more risen overnight as war in the Middle East continues to disrupt supply chains by sparking fears of oil shortages, forcing traders to charge more per barrel.
As of this morning, the Brent Oil Index – the global benchmark for crude oil pricing – places the global price of a barrel of oil at $110 (€95), an increase of 57pc compared to before the joint US-Israeli strikes against Iran began.
The impact of Israel’s strike on the South Pars gas field – located between Iran and Qatar and co-owned by both states – on Wednesday has had a ripple effect on the price of petrol and diesel worldwide, evident today for Irish motorists filling up today.
The hit comes amid a report just published by AA Ireland two days ago which showed that the average petrol price in March had already risen by 8c to €1.81 per litre compared to the pre-war period.
Coupled with rising petrol prices is a “considerable” jump in the cost of diesel, AA Ireland says, with the Irish Road Haulage Association also warning that diesel has exceeded €2 per litre in parts of the country.
The report makes good reading for EV drivers who are yet to experience any notable increases in the price of charging, with an AA Ireland spokesperson describng them as “stable” while “continuing to provide predictable running costs”.
A picture of spiralling prices is developing at various petrol stations around Ireland today, manifesting growing anxiety among many that prices may become untenable.
The general picture shows petrol hovering around the €2 mark, while diesel fires ahead at up to €2.30 per litre.
Maxol in Newbridge, Co Kildare is selling petrol at 199.9c per litre with diesel at 219.9c
Petrol at Circle K in the same location comes in at 197.9c per litre for petrol and 217.9c per litre for diesel, while nine days ago the station’s prices in Rathfarnham, Dublin were cheaper by 17c and 14c for petrol and diesel respectively.
McLoughlin’s Oil in Newbridge town is recording petrol at 199.9c and diesel at 229.9c.
Texaco at Junction 14 Mayfield on the M7 is today selling a litre of petrol for 198.9c and diesel for 218.9, while Top Oil in Raheny, Dublin has petrol and diesel on sale at 198.9 and 215.0 respectively.
Applegreen’s prices around the country today stand at up to 194.8c per litre for petrol and 214.8 for diesel.
To make the most efficient use of your newly expensive fuel purchases, AA Ireland is advising smoother driving, removing unnecessary weight from tyour vehicle and to plan journeys in advance.
Tell us the prices at the pumps in your area below