An Economic Study into the Impact of Fuel Price Rises

Ireland is facing one of the sharpest increases in inflation in generations. Much of the rise in consumer prices has been as a result of the global economy recording higher levels of demand following a relative period of ‘slumber’ during Covid-19 related restrictions and lockdowns. This high level of resurgent demand - alongside supply chain disruptions, the Suez Canal blockage, higher fuel/transport costs, protectionism and geopolitical volatility – have all contributed to what is being termed a cost of living crises’.