The price of a litre of diesel in some filling stations is now up to €1.157, two cents above the price of a litre of 95 octane petrol.
So far in 2008, the price of diesel has risen 21%, due in the main to the rising price of crude oil. This is not only affecting inflation but will, in the short term, have a detrimental effect on food prices. Transport, agriculture and fisheries are the first in the line to be affected but it won’t take long for the extra costs to be passed on, resulting in an increase in retail prices.