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Government announces cuts to excise duty on petrol and diesel

The Government has announced a cut in excise duty on petrol and diesel. The reduction will be 20 cent per litre on petrol and 15 cent per litre of diesel. It will be in place until 31st August.

This measure will reduce the cost of 60 litre tank of petrol by €12 and 60 litre tank of diesel by €9.

It comes after petrol and diesel prices in Ireland yesterday reached the highest level on record, at an average just short of €2 per litre.

In March of last year, prices stood at 138.9 cents per litre for petrol and 129.8 cents per litre for diesel. That’s an average increase of 44 per cent for petrol in the past year and a 54 per cent increase for diesel.