Ireland's fuel prices will rise by 2 cents per litre on January 1st due to a new biofuel mandate.

Ireland's fuel prices are set to rise by 2 cents per litre on January 1st due to legislation requiring a higher biofuel content. This marks the fourth increase in fuel costs over a year, with previous hikes linked to excise duty and carbon tax rises. Despite this, the government's reduction of the MIICF levy from 1% to 0% may lower motor insurance costs by around €20 million. Current prices are averaging €1.74 per litre for petrol and €1.71 for diesel, with the new legislation expected to add about 15 cents to petrol and 12 cents to diesel per litre.

3 months ago
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