Diesel prices back above €2 a litre in some forecourts
Diesel prices in Ireland have climbed above €2 per litre due to rising refining costs and geopolitical instability in the Middle East. Recent US strikes on Iran have heightened concerns regarding oil supply disruptions through the Strait of Hormuz.
Why it matters
Rising fuel costs directly impact inflation and consumer purchasing power, while Middle East tensions pose a risk to global energy security.
Diesel prices have risen above €2 per litre in some forecourts, according to lobby group Fuels for Ireland.
The organisation's chief executive Kevin McPartlan said the price increase was being driven by higher refining costs and elevated shipping costs.
He said wholesale prices had risen by 11 cent in the past week. When VAT was included it resulted in a 14 cent rise.
The threshold of €2 per litre was cited as a key trigger point sparking nationwide fuel protests earlier this year.
Today oil prices hovered near six-week highs after fresh US strikes on Iran and renewed Israeli threats against Tehran heightened concerns about disruptions to Middle East supplies.
Iran's health minister said eight people were killed and 108 wounded in Tuesday night's US strikes across Iran.
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