Petrol and diesel price have experienced sharp increases over the last month, according to the latest survey of fuel prices by AA Ireland.
The organisation has found that the average price of petrol is now 120.2 cent per litre, which is 3.3 cent higher than February's mean. The average cost of diesel is now 122.2, a rise of 4.7 cent on last month.
The AA's public affairs manager, Conor Faughnan, said there is little chance of drop in fuel prices in the next month, and believes that it is more likely that they will go up again by April.
In a statement released this evening, he said he can partly understand the increases, but has raised concern over the situation with diesel.
'We are now seriously concerned at what appears to be a disproportionate rise in diesel prices, and we would like to hear the oil companies explaining exactly how this has come about,' he said.
Faughnan said that diesel prices are traditionally higher in winter due to the demand for home heating oil, but this does not explain the why the cost of diesel is continuing to rise at this time of the year.
He said that the upcoming change to CO2 based taxation will lead to an upsurge in the sales of diesel vehicles, as they fare better in emissions tests. He says the current price of diesel is therefore a worry for environmentally conscious motorists.
'We will be watching this closely and we will be pressing the oil companies to explain where these prices are coming from,' he said.
