The price of a litre of unleaded petrol nationally hit 115.9 cent this month, up from 103 cent in January, according to a survey by AA Ireland.
This translates to a rise of around 12.5%. Oil prices have been rising this year as a result of continuing pressure on supplies.
In China demand is up 11% year on year and there are also concerns about the ability of the supplies to meet the summer driving season in the US.
Oil prices have been rising this year, and London Brent now costs around $70 a barrel, while crude costs $65.
These prices are not too far off the $78.40 peak reached in July 2006 for crude oil, due to geopolitical fears.
