Soaring fuel prices mean the cost of filling your car has not been dearer since 1991.
The expense has reached a 31-year high at the same time as the annual cost of filling your car has shot up by 17% in the past year.
A rate of 177.3 cents per litre for petrol and 167.6 cents per litre for diesel is now the national average price of fuel.
A spokesperson for the Automobile Association (AA) said of the record high: “This is an increase of 33% for petrol and an increase of 34% for diesel in the past year.
“These are now the highest prices that AA Ireland has seen since we started recording figures in 1991.”
He added: “The annual cost of filling your petrol car has increased by 17% in the past year, as fuel prices reach new record highs.”
The February 2022 costs of 177.3 cents per litre for petrol and 167.6 cents per litre for diesel compare starkly with prices from 2021 and 2020.
The spokesperson said: “In February 2021, fuel prices were 133.8 cents per litre for petrol, with diesel at 124.9 cents per litre.
“In February 2020, petrol stood at 141.9c, with diesel at 133.4c.
“A recent AA Ireland Twitter poll (501 votes in 24 hours) found that 84% of people have been ‘significantly impacted’ by the high cost of fuel in Ireland.”
When petrol prices hit a high of 175 cent per litre last month, the AA warned that prices would continue rising.
And Lobby group Fuels for Ireland, which represents petrol producers, urged that the Government to act because Ireland is the 17th most expensive country in the world for fuel and ranked 12th dearest in Europe. The AA’s newest calculations were revealed yesterday.
They are based on the average mileage of 17,000km per year for a 50-litre fuel tank and a travel range of 700km per tank and use figures from the Competition and Consumer Protection Commission (CPCC).
Accordingly, in 2020, filling your petrol car cost €64, while the average price per litre stood at €1.28 – meaning a cost of €1,554 to fill a car for the year.
In 2021, filling your petrol car cost €75.50, while the average price per litre stood at €1.51 – meaning a cost of €1,833 to fill a car for the year.
In 2022, filling your petrol car currently costs €88.50, while the average price per litre stood at €1.77 – meaning a cost of €2,149 to fill a car for the year.
The cost difference between 2020 and 2021 is a €279 financial increase, an 18% rise.
The cost difference between 2021 and 2022 is a €315 financial increase, an 17% rise.
While the overall the cost difference between 2020 and 2022 is a €595 financial increase, an 38% rise.
Some analysts have been calling for a reduction on tax because as much as 60% of the price paid at the pump is tax.
Without this tax, the current 177.3 cent per litre cost of petrol would be 79.37 cent and the current 167.6 cent per litre cost of diesel would be 82.35 cents.
Fuels for Ireland spokesman Kevin McPartlan said: “Government must urgently review the taxes, levies, duty and obligations on the industry.”
The AA spokesperson added: “As a result of high fuel prices, people are considering switching their mode of transport away from petrol and diesel vehicles.
“An AA poll asked this very question (384 votes in 24 hours). Of those that voted yes, 17% voted for an electric vehicle, 7% voted for public transport, and 22% voted for walking or cycling.
“Some 54% voted for none of the above.”
