Diesel prices have risen above €2 per litre in some forecourts, according to lobby group Fuels for Ireland.
The organisation’s chief executive Kevin McPartlan said the price increase was being driven by higher refining costs and elevated shipping costs.
He said wholesale prices had risen by 11 cent in the past week. When VAT was included it resulted in a 14 cent rise.
The threshold of €2 per litre was cited as a key trigger point sparking nationwide fuel protests earlier this year.
Today oil prices hovered near six-week highs after fresh US strikes on Iran and renewed Israeli threats against Tehran heightened concerns about disruptions to Middle East supplies.
Brent crude was up 1.3% at $97 a barrel.
Iran’s health minister said eight people were killed and 108 wounded in Tuesday night’s US strikes across Iran.
The Iranian Red Crescent said four people were killed and 67 wounded at a wedding ceremony near the coast of the Strait of Hormuz.
The latest attacks marked the most substantial exchange of fire between the US and Iran since July, with the war now in its seventh month.
Six commodity vessels transited the Strait of Hormuz on Wednesday, down from 11 a day earlier and well below the 10-day average of around 13, preliminary shipping data showed today.
“The oil market remains tight, with oil inventories still declining globally translating in higher prices. Some support might have also come from ongoing tensions in the Middle East,” said UBS energy analyst Giovanni Staunovo.
Meanwhile, Iran added more ships to the list of vessels it deems non-compliant and subject to fines, confiscation or detention if they try to sail through the strait.