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Applegreen warns of a “significant” rise in petrol and diesel prices from Saturday

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Leading fuel retailer Applegreen has warned of a “significant” increase in petrol and diesel prices for its business customers from tomorrow.

The move comes as oil prices have soared in world markets, reaching levels not seen in a decade and a half due to the Russian invasion of Ukraine.

The prices for a liter of premium petrol have already risen to 2 euros at some filling stations, as those who rely on their cars and vans are confronted with enormous cost increases.

According to AA Ireland, petrol and diesel prices are at record levels.

The cost of running a typical family car has skyrocketed by €900 in the last two years as supply chain problems, constrained supplies from OPECplus and now the invasion of Ukraine have pushed up crude prices.

Applegreen today issued a note to its fuel card customers stating, “Please note that starting tomorrow, March 5, prices will increase significantly.”

Fuel card customers are typically those who operate fleets of vans and trucks and purchase large quantities of fuel. The price you pay is fixed for a week.

The company said: “Applegreen can confirm that an email was sent to B2B/LowFuelCard customers today notifying them of a significant fuel price increase that will go into effect tomorrow.

“Because our LowFuelCard is charged on a weekly basis, this brings the fuel price to B2B [business to business] Adjust customers to price for retail customers who have already experienced price increases at the pumps in the past week.”

Applegreen said the price increase referenced in the email to fuel card customers will not affect its retail customers.

However, all gas station dealers have increased prices for consumers.

It is the largest operator of highway rest stops and gas stations in the state. It has 200 retail stores in Ireland.

Gasoline and diesel prices are currently increasing by a few cents a week.

Crude oil prices have now reached $115, up 28 percent in the last month alone.

AA Ireland has called for a reduction in excise duty on petrol and diesel, with up to €1 of the price per liter made up of VAT, excise duty and carbon tax.

Earlier this week, Tánaiste Leo Varadkar told the Dáil the government should look into cutting the excise duty to lower fuel costs for the consumer.

Mr Varadkar highlighted excise duty when speaking of the coalition dealing with crippling fuel costs for consumers.

Fears that fuel supplies will be cut due to the war in Ukraine have prompted the Irish Road Haulage Association (IRHA) to write to the government.

IRHA said that as an industry that relies on diesel to power its fleet that distributes fuel across Ireland, it was “deeply concerned” at evidence of impending supply shortages.

The President of the Board, Eugene Drennan, wrote to the Taoiseach, Tánaiste and Environment Ministers.

“We have already seen fuel prices rise rapidly as a result of supply shortages and these shortages have put our sector in a dangerous position,” he wrote.

“Any threat to the continuity of fuel supply will have a serious impact on the national economy in addition to our own sector,” he added.

Petrol station dealers had warned last week that prices at the pumps would rise again because of the war in Ukraine.

The association’s David Blevings said crude prices were already inflated, buoyed by strong demand on the back of unprecedented economic growth and a lackluster approach to inventory increases by OPEC members.

He said world oil stocks are at a seven-year low and the outbreak of war in Ukraine is adding a big unknown to the market.

https://www.independent.ie/business/personal-finance/applegreen-warns-of-substantial-rise-in-petrol-and-diesel-prices-from-saturday-41412646.html Applegreen warns of a “significant” rise in petrol and diesel prices from Saturday

Fry Electronics Team

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