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Diesel prices are rising rapidly as economic optimism grows alongside the COVID-19 vaccine rollout and the US’s recently announced $1.9 trillion stimulus plan.
Prices are going up by 1c/l each week in Ireland. Medium-sized buyers are receiving quotes of between 55c/l and 57c/l plus 13.5% VAT.
Bigger contractors and buying groups are receiving quotes of 55c/l plus VAT, while farmers filling a small tank of diesel in the yard are paying over 60c/l plus VAT.
Prices are now approaching double what they were 12 months ago when the pandemic first shut down economies.
Prices bottomed out that time for tractor diesel at 35c/l plus VAT, with some contractors buying even cheaper.
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