Retailers expect diesel prices to rise by this weekend

Diesel prices are poised to climb by about ten cents per liter this weekend, according to forecourt retailers. The Convenience Stores and Newsagents Association (CSNA) reported that the wholesale price of diesel delivered on Thursday was eight cents higher than the previous day. This increase is expected to push prices at many pumps from around €1.70 to over €1.80 per liter.

Motorists can also anticipate a rise in petrol prices, as the wholesale cost of petrol delivered on Thursday increased by approximately two cents per liter. These potential hikes come after the government reduced excise duty on diesel by 32 cents and on petrol by 27 cents in April, measures set to remain until September before a phased unwinding.

In response to fluctuating fuel costs, Fuels for Ireland, an industry group, has urged the establishment of an independent expert panel. This group would convene government, industry, and consumer representatives to create an evidence-based framework for fuel taxation. "Rather than responding to each global crisis as it emerges, Ireland has an opportunity now to develop a clear, long-term strategy that provides certainty for consumers, businesses and policymakers alike," stated Fuels for Ireland Chief Executive Kevin McPartlan. The proposed framework aims to balance affordability, energy security, and decarbonization.

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Rather than responding to each global crisis as it emerges, Ireland has an opportunity now to develop a clear, long-term strategy that provides certainty for consumers, businesses and policymakers alike.