Fuel Prices Top €2 a Litre as Annual Extra Cost to Households From War Could Hit €1,000 - 10/03/2026

The financial impact on Irish households of war in the Middle East could quickly top €1,000 if oil prices remain elevated, with higher-priced motor fuel, domestic energy, food and mortgages just some of the ways consumers could be hit, experts have warned.The cost of a litre of motor fuel has already crossed €2 on many fuel forecourts, with prices reaching levels not seen since the summer of 2022 and the aftermath of Russia’s invasion of Ukraine.A sustained 30 cent per litre hike will see the average motorist worse off by just over €300 a year, while a 20 per cent jump in domestic energy costs will add another €600 to annual bills. The increased cost of oil is also expected to have a knock-on effect on the price of food and other consumer goods.Consumer Affairs Correspondent & Pricewatch Editor at The Irish Times, Conor Pope, joined us on The Agenda this morning to talk to us some more about this. Hosted on Acast. See acast.com/privacy for more information.