Ireland's largest independent oil company Maxol is to raise its petrol and diesel prices by 3.25 cent per litre from midnight.
The company's chief executive told RTE radio that these increases would be at the wholesale level, but he expected retailers to put their pump prices up in the coming days.
He said petrol prices were heading towards the €1 a litre mark for the first time. Mr Noonan said the latest increase was not matching the price Maxol was having to pay for oil at the moment, adding that the company would have to raise prices again if the present oil price levels were sustained.
