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Petrol and diesel prices set to rise

Fuel prices - Rises expected
Fuel prices - Rises expected

Petrol and diesel prices in Ireland are expected to rise by two or three cent per litre, according to AA Ireland.

The rise is being driven by a jump in the cost of oil, which is almost $67 a barrel.

Oil prices are still short of their all time high of $70 a barrel which they reached last September. That record was partly caused by damage caused by Hurricane Katrina on the Gulf States of the US last August.

Since the beginning of the year crude prices have risen by 9%, the causes being nervousness about Iran's nuclear ambitions and attacks by militants on oil production in Nigeria. The African state is the eighth biggest exporter of crude oil.

AA Ireland says in the next four or five weeks this could lead to an increase at the pumps.