Irish Fuel Prices Soar: Heating Oil, Diesel & Petrol Costs Rise Amidst Conflict

March 21, 2026 Priya Shah – Business Editor Business

Irish households are facing significantly higher energy costs as oil prices continue to climb amid escalating tensions in the Middle East. The price of home heating oil has surged by 44% in the past month, according to price comparison website oilprices.ie, with consumers now paying considerably more to fill their tanks.

The increases are directly linked to the ongoing conflict involving Iran, which has disrupted global oil markets. On Friday morning, oil was trading at $120 per barrel, a substantial increase from pre-war levels closer to $70 a barrel. This jump is already being felt by Irish consumers, with rising prices at the pumps and mounting costs for home heating oil.

The Convenience Stores and Newsagents Association (CSNA) warned on Thursday that wholesale diesel prices are set to increase by almost 13 cents per litre today, with petrol wholesale prices expected to rise by close to 5 cents. It remains uncertain whether filling stations will absorb these costs or pass them on to motorists.

Data from oilprices.ie illustrates the rapid increase in heating oil prices. On January 20th, the national average price for 500 litres of heating oil was €473.11, with prices ranging from a low of €448 to a high of €509.96. By February 20th, the national average had risen to €491.05, with a range of €458.03 to €525. However, the most dramatic increase occurred in March, with the national average reaching €879.47, peaking at €1,000 on March 3rd and 4th, and ranging from a low of €838 to a high of €949.

The rising cost of diesel and petrol is also impacting Irish motorists. According to AA Ireland’s monthly fuel surveys, diesel cost an average of €1.69 per litre in January, falling from €1.73 in December. A small car with a 40-litre tank would have cost €67.60 to fill, although a larger car with a 60-litre tank would have cost €101.40. In February, diesel prices edged up to €1.72 per litre, costing €68.60 and €103.20 respectively for small and large car tanks. However, March saw a significant jump, with diesel prices rising to €1.90 per litre, resulting in fill-up costs of €76 and €114 for small and large cars.

Petrol prices followed a similar trend. In January, petrol cost an average of €1.70 per litre, with fill-up costs of €68 and €102 for small and large cars. February saw a slight increase to €1.73 per litre, costing €69.20 and €103.80 respectively. March brought an 8-cent increase to €1.81 per litre, resulting in fill-up costs of €72.40 and €108.60.

AA Ireland noted that pump prices are closely linked to global oil market fluctuations, geopolitical events, and currency exchange rates, leading to rapid and variable price changes. An AA Ireland spokesperson emphasized the importance of motorists shopping around for the best prices, noting that prices at the pumps are fluctuating daily, and even small differences per litre can add up over time.

Despite efforts by leading European nations, Japan, and Canada to secure safe passage for ships through the Strait of Hormuz, and US moves to boost oil supply, oil prices have continued to gain. The situation remains volatile, with no clear finish date in sight for the conflict, leaving Irish consumers bracing for potentially further increases in energy costs.