Cost of a litre of petrol set to break €1 mark

The cost of a litre of petrol will pass the €1markwithinweeks, according to the chief executive of theMaxol Group,Tom Noonan.

19th March, 2005

“If the present trends continue I'd expect the €1 barrier to be broken sooner rather than later, probably within the next few weeks,’'Noonan said. With the purchase price of oil rising rapidly it is inevitable that the price at the pumps will increase, he said.

The price of a barrel of oil has risen by 50 per cent in the last year, and now stands at about $56.40.

The average price of a litre...

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