Petrol station owners have gone ahead with a two-cent increase in the price of 95 octane petrol, despite the fact that the more expensive fuel will not be supplied until Tuesday.
According to reports, owners have increased the price to €1.438 per litre earlier in order to make use of the fact that petrol stations will remain closed over the Easter weekend and Monday, forcing customers to use the cash-machines.
Several petrol stations have already updated their price list while more are expected to follow over the next couple of days.
The rise in the price of fuel is considered to be related to developments in Ukraine, while the price of oil in the last few days has been stable at approximately $104 a barrel compared to $101 last week.
Prices have been on the rise over the last month, with investors’ attention focused on the conflict between Russia and Ukraine.
In light of the developments in Ukraine, the US Energy Information Administration (EIA) sees the price of oil dropping from $109 in 2013 to $92 in 2017.