There has been a “significant rise in fuel prices” across the country over the last 12 months, according to the Irish Farmers’ Association (IFA).
Commenting following the completion of a national survey by the organisation, IFA Farm Business Committee chairwoman Rose Mary McDonagh said:
“Fuel prices have increased by over 30% compared to this time last year, which can be attributed to the recovery in crude oil prices.”
The chairwoman noted that the spot price for a barrel of crude oil collapsed to $20 at the start of the Covid-19 pandemic last year – but it has steadily returned to pre-pandemic price levels this month ($65-$70).
This rise in fuel prices reflects the latest Central Statistics Office (CSO) figures on agricultural input prices which demonstrated that farmers are caught in a classic cost-price squeeze, she added.
“The rise in input prices without a corresponding increase in output prices means that the difference is coming out of farmers’ pockets, and impacting on their bottom line,” McDonagh said.
IFA has completed a national survey on the price of white diesel, green diesel and kerosene.
The average prices quoted incl. VAT were as follows:
- White diesel – €1.31/litre;
- Green diesel – €0.69/litre; and
- Kerosene – €0.65/litre.
There were variations of over €0.09/litre including VAT between the counties surveyed.
On 1,000L of green diesel including VAT, the saving could be as high as €98, the IFA noted.
Allowing for outliers, there is little price variation across the country compared to this time last year. Notwithstanding that, the IFA is reminding its members that it pays to shop around for fuel.
McDonagh added that some suppliers indicated that purchases in larger volumes tend to work out cheaper, particularly if paying on the day. Purchasing groups tended to receive the keenest quotes.
“Further discounts can be secured when ordering fuel online,” McDonagh concluded.