Price already hiked in petrol and diesel in some forecourts

Excise rates on fuel for motorists are due to come into effect from midnight tonight, but prices have already increased in some forecourts locally.

Petrol rates will increase by 7c per litre, while diesel prices will rise by 5c. Meanwhile, agricultural diesel will go up by 1c.

Some forecourts with high turnovers purchase wholesale supplies every day, meaning retail prices will have already increased this morning.

On the other hand, it may take other outlets days to sell their existing stock, which was purchased at the lower excise rate.

This is the second of three increases in excise, in a bid to combat the reduction brought in March 2022 to combat soaring prices in the wake of the Russian war in Ukraine.