AA Ireland’s latest fuel price analysis shows both petrol and diesel prices rising in August, with diesel up 19 cents per litre in a single month. The increases reflect wholesale market movements, as excise duty was unchanged during August, and come ahead of a scheduled phased restoration of excise from 1 September.
Diesel prices rose to an average of €1.92 per litre in August, up 19 cents from July’s average of €1.73 per litre, an increase of 11%. Petrol prices rose to an average of €1.84 per litre, up 9 cents from July’s average of €1.75 per litre, an increase of 5%. For a motorist filling 50 litres, that is €9.50 more for a tank of diesel and €4.50 more for petrol, or €38.00 and €18.00 respectively across four fills in the month.
Key changes from July to August:
- Diesel: €1.92 per litre on average in August, up 19 cents from €1.73 in July
- Petrol: €1.84 per litre on average in August, up 9 cents from €1.75 in July
- Excise duty: unchanged during August. The temporary reductions of 27 cents per litre on petrol and 32 cents on diesel, which include the reduced NORA levy, were extended in full to 31 August
- From 1 September: excise begins a phased restoration, adding 9 cents to petrol and 10 cents to diesel
An AA Ireland spokesperson said:
“This is a significant month-on-month increase, and motorists should understand where it has come from. Excise duty did not change during August, so what drivers are seeing at the pumps reflects global market conditions rather than any change in tax. Diesel has borne the brunt of it this month.”
“The concern is what comes next. From 1 September, excise begins to be restored in stages, starting with 9 cents on petrol and 10 cents on diesel. If wholesale prices hold where they are, motorists should plan for further increases through the autumn rather than expect this month to be the peak.”
AA Ireland notes that fuel prices continue to be influenced by international oil supply, geopolitical uncertainty and currency movements, and that volatility remains a feature of global energy markets.
Vehicle Maintenance Plays an Important Role
AA Ireland is reminding motorists that regular vehicle maintenance can improve fuel efficiency and reduce running costs.
“Simple checks such as maintaining the correct tyre pressure, servicing your vehicle regularly and replacing worn air filters can all help improve efficiency,” the spokesperson said.