Drivers are being warned that petrol and diesel prices are set to see an rise in the coming days as the Government is due to increase excise duty.
The Government cut excise duty in March 2022 as fuel prices soared due to the war in Ukraine. But it February it was announced that excise duty cuts would be restored on a phased basis between June and September.
From next Thursday June 1, the first of three planned increases on petrol and diesel will come into effect and it is aimed at restoring rates to their pre-Ukraine war levels. Having plummeted in the early stages of the Covid-19 pandemic, the price of oil steadily began to ratchet up again from late 2020 onwards.
