Rural communities to feel the pinch as fuel prices soar amid possible ban on Russian oil

As Western countries consider a ban on Russian oil, fuel prices continue to skyrocket.
The price of oil jumped more than eight per cent on Monday, reaching its highest level since 2008.
Over the weekend a number of service stations were selling petrol and diesel at more than €2 a litre. Speaking about the rise in prices, Paddy Comyn, head of communications at AA Ireland, said that paying €2 for a litre could become the norm.
"It would look like that because we are seeing the price of a barrel of oil hit almost $130 a barrel and that translates to prices close to, or if not above, €2 a litre across the board on average," Mr Comyn explained.
"Now, we haven't got there yet, but the signs look like [it] will get there, and we are seeing filling stations with that sort of pricing already, and we saw it over the weekend, especially in places like Newbridge, Co Kildare where we saw several stations with that sort of pricing."
According to Mr Comyn, there are a couple of factors pushing the price surge.
"Obviously the Ukraine-Russia situation is potentially causing the markets to be upset and also there are some discussions about there being sanctions against Russian oil coming into Europe and elsewhere.
"What that may do is further increase the price because it is a case of supply and demand, so we might see the price of a barrel of oil increase.
"In Ireland we pay about 60 per cent tax [on fuel], so as the price of a barrel of oil increases, the equivalent price increases here."








