The owner of a Cavan filling station has warned that if the increasing price of petrol and diesel "continues on its current trajectory", customers can expect to be paying €2 per litre for fuel in about six weeks' time. Speaking on this morning's Joe Finnegan Show, Phillip Kiernan of Kiernan's Texaco in Cavan says the price of vehicle fuel has risen by about 13% since August.
Some of the reasons he cited for the sharp increase includes a weak Euro against the dollar; the war in Ukraine; and the fact that Russia has suspended sales of its fuel to Europe for around four weeks at this point. He said not only should the Government not increase excise duty in the upcoming budget but should actually reduce it from its current rate.
Mr Kiernan said Dublin aside, most people in Ireland live rurally and are therefore heavily reliant on road transport for everyday life. "The price of fuel affects the price of a litre of milk and a loaf of bread, the basic essentials," Phillip Kiernan said, "by putting it up, it's really driving up the cost of living and inflation in the country."
"We rely on diesel and and unleaded for everything, our deliveries, getting kids to school," the businessman continued, "It hits the poorest to the wealthiest - everybody, and that's the way it is."
