The cost of heating and motor fuel is on the rise.
Just over three in five adults in Ireland have said they will need to make cuts in a bid to cover rising fuel costs, according to a new survey.
Market research agency iReach stated that 61% of its survey respondents spoke of a need to reduce their spending as the cost of heating and motor fuel is on the rise.
According to the agency, the average monthly heating fuel cost for Irish adults in 2021 was €132.
However, 71% of respondents to iReach’s survey said they received notice of an increase in the price of their heating fuel, averaging at a 15% rise.
Meanwhile, the average cost per month for electricity last year was €129.
Again, 79% of those surveyed received a notification of a rise in this cost, which averages a 16.5% increase.
In terms of motor fuel, the average weekly cost in 2021 for Irish adults was €38.
Since then, however, 87% have noticed an increase in this area.
This is as the average weekly fuel cost has increased by €14.71.
3 in 5 Adults in Ireland say they’ll have to make cuts to cover increased fuel costs.https://t.co/kEi5TzXKIL pic.twitter.com/tXzXFK6UiT
— iReach Insights (@ireachinsights) August 3, 2022
Out of the people surveyed, 85% had a car or cars in their household and petrol was the most popular type of car motor fuel (50%), followed by diesel (42%).
Meanwhile, 6% of respondents said they use a hybrid while 3% said they use an electric car.
The cost of living continues to be a source of controversy in Ireland, with a number of protests nationwide taking place in June.
Last week, McDonald’s Ireland confirmed that it would be increasing the cost of select items on its menu, including its classic cheeseburger.
It cited inflation as the reason for the price hike.
Meanwhile, in response to the ongoing cost of living crisis, Penneys recently announced a price freeze on more than 1,000 kids’ products in-store.
The prices are set to remain in place for the autumn period, just in time for back to school.
“Offering the very best value to our Penneys customers has always been at the heart of our brand, and it’s more important than ever today,” said Damien O’Neill, Head of Penneys Ireland and NI.
“Kids grow fast, and replacing their clothing is an essential task for families – we hope that by protecting the prices on our essential kids’ items we can help in some small way, particularly as we enter the costly back-to-school season.”
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