The price of a litre of fuel at Irish petrol stations could hit €2.60 by the end of next month according to the head of an Irish oil firm.
Petrol and diesel topped €2 recently prompting a cut in excise duty.
Paddy Comyn from the AA says prices have come down significantly in recent days across the country.
He says they could rise again but such a dramatic increase would depend on a number of factors.
“It depends on the volatility of the market with Russia and Ukraine.
“A lot of the concerns were down to the fact that there was worry over the supply if people were to boycott Russia in terms of buying Petrol or Diesel
“We have seen Diesel go up as a result of that.”
The once off fuel allowance payment of €125 will be paid to social welfare recipients from today.
The measure forms part of the government’s efforts to tackle the rising cost of living.
372,000 people will get the payment over the coming days.
Labour Party TD Duncan Smith says the payment is means tested.
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