Cost of petrol rises above €2

Just a day after the Taoiseach warned of of further fuel price hikes, petrol has gone above the €2 a litre mark.

It follows the decision by EU leaders to cut the amount of Russian oil coming into the bloc by 90%.

Forecourts across the country are now charging up to €2 and 8 cent a litre for petrol, however diesel prices which breached the €2 a litre mark last month, have moderated slightly.

ESRI Energy Economist Muireann Lynch says prices will keep increasing following the EU decision:

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