We do not have good news. Next week, starting on 31 March, fuel prices are expected to increase - with the biggest rise affecting standard unleaded petrol.
Industry sources indicate that standard diesel could go up by as much as 2 cents per litre, while standard unleaded petrol is forecast to rise more sharply, by 4 cents per litre.
From next Monday, the average price of standard diesel is therefore expected to move up to €1.596/l, while standard unleaded petrol is expected to climb to €1.75/l.
How fuel prices are calculated (DGEG)
These fuel price estimates are calculated using figures published by the Directorate-General for Energy and Geology (DGEG) - in this case, the values released last Thursday, 27 March.
The DGEG figures already factor in the discounts applied by fuel retailers, as well as the government measures currently in force.
Even so, it is worth stressing that these are not necessarily the prices you will see at the pump. They are average, indicative values, and retailers are free to set whatever price they choose.
Government measures currently in force
The government measures introduced in 2022 to help cushion fuel price increases remain in place, mainly through adjustments to the ISP.
The ISP increased this year by 3 cents per litre, but because the carbon tax rate fell, there was no change to the overall tax burden on fuels.
As a result, the combined total of all "tax discounts" amounts to 17.6 cents less per litre for diesel and 19.2 cents per litre for petrol.
Source: ACP
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