Fuel prices have risen significantly in Ireland, with diesel prices set to rise by five cents a litre
DUBLIN – Fuel prices in Ireland rose on New Year’s Day, increasing the burden on car owners. The price hike went into effect at midnight last night. Diesel and petrol prices have risen by 4 to 5 cents per litre due to changes in the biofuel mix and delays in legislation.
Last week, agricultural diesel was priced at 93.58 cents and white road diesel at 129.5 cents. These prices will now be 98 cents and 135 cents, respectively, due to the new increase. Green diesel for agricultural use and home heating is expected to be affected.
The Renewable Transport Fuels Obligation (RTFO) rate for the country’s fuel distributors has been raised from 13 percent to 16.98 percent as of today. The fuel price has also increased. An additional cost of €27,000 per month is expected.
The Climate Action Plan seeks to reduce carbon emissions by half by 2030. According to a spokesperson for the Department of Transportation, the proportion of biofuels in road transport should be gradually increased. As part of this, the RTFO rate has been set in accordance with the National Oil Reserve Agency’s (NORA) recommendations.
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