I am advised by Revenue that the estimated cost to the Exchequer of not proceeding with the scheduled increases in rates on Mineral Oil Tax (MOT) for petrol and auto diesel on 1 April 2024, 1 August 2024, and 9 October 2024, is shown in the following table. The yield will not accrue if these increases do not proceed as scheduled
Fuel Type
|
MOT €m
|
VAT €m
|
Total €m
|
Petrol
|
|
|
|
1-Apr-24
|
22.5
|
5.2
|
27.7
|
1-Aug-24
|
10.9
|
2.5
|
13.4
|
9-Oct-24
|
2.4
|
0.5
|
2.9
|
Petrol Total
|
35.8
|
8.2
|
44.0
|
Diesel
|
|
|
|
1-Apr-24
|
59.7
|
4.4
|
64.1
|
1-Aug-24
|
29.9
|
2.2
|
32.1
|
9-Oct-24
|
10.7
|
0.8
|
11.5
|
Diesel Total
|
100.3
|
7.4
|
107.7
|
Overall Total
|
136.1
|
15.6
|
151.7
|