This week, quotes for bulk quantities of green diesel are hovering around €0.90/l, including VAT.

As we went to press this week, quotes for green diesel – or marked gas oil (MGO) as it’s officially referred to – were ranging from €0.88/l up to €0.91/l, including VAT.

Over the past number of weeks, prices have dropped marginally, with the majority of suppliers noting a 0.5c/l fluctuation from day to day.

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In the main, markets towards the end of 2025 showed better signs of stability in comparison to the earlier summer months of the year.

As of 1 May 2026, a carbon tax increase of €7.50/t will be implemented, rising from €63.50/t to €71/t and estimated to add somewhere in the region of 2.5c/l plus VAT to the price of green diesel. Once implemented, carbon tax will have increased notably from €26/t to €71/t in just five years.

Price increases at the pumps

Meanwhile, prices at the pumps for white diesel and petrol are set to rise as result of several Government measures which came into effect on 1 January.

Such measures include a change to the renewable transport fuel obligation (RTFO) and an increase in the Better Energy Levy which will add somewhere in the region of 4c/l and 1c/l respectively, plus VAT to a litre of fuel.

Given that oil markets, are relatively steady, it remains to be seen if these increases will be absorbed or by just how pump prices will increase.

National representative body, Fuels for Ireland has urged the Government to re-examine the current fuel taxation framework, arguing that recent changes are placing additional strain on households and businesses.

Brent crude

Brent crude was trading between US$61 and US$62/ barrel when we went to press this week. This compares with prices of US$80/barrel this time last year.

Since then, prices have been on a downwards trajectory with the exception of disruption last June when heightened tensions in the Middle East led to strikes to breaking out between Israel and Iran.

Looking forward, investment banks are forecasting an average oil price of below US$60/barrel as supply is expected to grow faster than demand, which would indicate that price increases should be relatively subdued.