New figures from AA Ireland show that petrol and diesel prices rose in February after four months of decreases in a row.
The AA's latest monthly Fuel Price Survey shows that petrol prices rose from €1.68 per litre in January to €1.71 in February, while diesel rose by four cent a litre from €1.68 to €1.72.
The AA noted that the price of crude oil also rose over the last month from around $79 per barrel to around $83 per barrel. Although only a small rise, it is likely to have a knock-on impact at the pumps, it added.
Blake Boland, Head of Communications for the AA Ireland, said that motorists in Ireland are feeling the pinch at the moment with consistent increases in the cost of running a car in recent years.
"We had a steady drop in fuel prices over the last four months. We are disappointed to see that trend coming to an abrupt halt," he added.
Blake Boland said that prices are unlikely to remain steady, adding that further instability in oil-producing regions and the ongoing conflict in Ukraine could shift the price of crude oil.
"We saw global stocks reducing in January, and any disruption of supply could raise prices further. We are also edging closer to the phased re-introduction of Excise Duties that were postponed late last year. They will ultimately see prices rising by eight cent per litre for petrol and six cent per litre for diesel," he added.
However, electric vehicle owners saw a drop in charging costs in February, according to today's survey. EV owners will pay on average €900.43 per year, compared to the December average of €967 to cover the national average of 17,000km a year.
However, the figure of €900 still remains elevated far above the prices seen before Russia's invasion of the Ukraine.
Mr Boland said that the trend looks to continue downwards.
"With the wholesale price of electricity coming down steadily last year and this year, EV drivers are seeing the benefits in their pockets. We anticipate that electricity providers will continue to pass on the reduced costs to the motorist. We think there is plenty more scope for prices to drop," he added.
AA Ireland has calculated that a similarly sized diesel vehicle will cost about €2,047 to cover that same distance of 17,000km.
