How much are fuel increases really costing us?

Temperatures hit 18 degrees Celsius in parts of the country on Thursday.

The warmest day of the year so far, and welcome news for households with oil heating systems.

Heating oil prices increased by 44% in the past month, according to price comparison website oilprices.ie.

Soaring energy costs are the price consumers are paying as the fallout of the US-Israeli conflict with Iran continues, with no end date in sight.

Oil prices gained again yesterday despite leading European nations, Japan and Canada offering to join efforts to secure safe passage for ships through the Strait of Hormuz and the US outlining moves to boost oil supply.

On Friday morning oil was trading at $120 per barrel, before the war oil was closer to $70 a barrel.

On Thursday, The Convenience Stores and Newsagents Association (CSNA) warned wholesale diesel prices were set to increase by almost 13 cents per litre by today and petrol wholesale prices to rise by close to 5 cents.

It's not clear if filling stations will absorb these costs or pass them on to motorists.

So, how much are these increases really costing us?

It says heating oil tends to be cheaper around cities, especially Cork and Dublin, and more expensive in remote areas, noting price differences across the country of up to €150.

This is a comparison of the average national price for 500 litres of heating oil each month since the start of the year, including the cheapest and highest costs reported by oilprices.ie.

20th January: National average €473.11; cheapest €448; highest €509.96.

20th February: National average €491.05; cheapest €458.03; highest €525.

20th March: National average €879.47; cheapest €838; highest €949 (it peaked at €1,000 on March 3 and March 4).

AA Ireland’s monthly fuel surveys have been highlighting the rising cost of diesel and petrol since the start of the year.

It should be noted that these are average figures for each month.

Higher costs have been reported locally, most notably in March where prices for diesel jumped to between €2 and €2.10 and even higher at some locations.

A small car typically has a tank that holds around 40 litres, these include the Volkswagon polo, Ford Fiesta, Mini Cooper and Renault Clio.

Mid size to larger cars such as sedans and SUVs typically have up to 60 litres capacity, these include the Nissan Altima, Jeep Meridian, Volkswagon Golf, Audi A 3 and BMW 5 series.

January: There was a small but welcome reduction in fuel prices in January.

On average diesel cost €1.69 per litre, down from €1.73 in December.

Small Car tank fill 40l: €67.60
Large Car tank fill 60l: €101.40
February: Fuel prices edged up again in February reversing some of the reductions seen at the start of the year.

Diesel increased by 3 cents to €1.72 per litre on average.

Small Car tank fill 40l: €68.60
Large Car tank fill 60l: €103.20
March: Fuel prices rose sharply this month with diesel jumping on average by 18 cents to €1.90 per litre, up from €1.72 in February.

January: Similar to diesel, petrol prices went down this month, costing on average €1.70 per litre in January compared to €1.74 in December.

February: Like diesel, petrol car owners saw a small increase at the pumps this month.

Petrol rose to €1.73 per litre on average, up from €1.70 in January.

Small Car tank fill 40l: €69.20
Large Car tank fill 60l: €103.80
March: While diesel drivers felt the biggest impact at the pumps this month, petrol prices also rose.

Petrol increased by 8 cents to €1.81 per litre on average.

Small Car tank fill 40l: €72.40
Large Car tank fill 60l: €108.60
AA Ireland noted that pump prices remain closely linked to fluctuations in global oil markets, geopolitical events such as the recent escalation of conflict in the Middle East, and currency exchange rates.

As a result, prices can change quickly and may vary significantly depending on location and fuel retailer.

An AA Ireland spokesperson said with fuel prices climbing again this month, it’s more important than ever for motorists to shop around where possible.

"We’ve heard from our members that prices at the pumps are moving above and below €2.00 per litre on a daily basis.

"Even a difference of a few cents per litre can add up over time."