asked the Minister for Industry and Commerce if he is aware of reports that there has been a very large increase in the profits of petrol companies; and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Petrol Profits.
32.
I am aware that recent reports have indicated that there have been substantial increases in the profits of the major international oil companies. I have no up-to-date accounts for the companies distributing petrol in Ireland to show what their profits have been in recent months, but their situation will be kept under review.
The Deputy will appreciate however that in order to safeguard supplies the profits of oil companies in this country cannot be out of line with profits in other markets. The aim of price control is to ensure that the Irish consumer does not pay more than is necessary to ensure the maintenance of supplies.
Does the Minister agree that there was hoarding of oil by the oil companies waiting to have a price increase sanctioned? When the price increase was sanctioned it appeared that there was plenty of petrol and oil.
Please, Deputy, do not embark on a statement.
Some filling stations are encouraging people to buy petrol by making Green Shield stamps available.
A question, please.
Surely it should not have been permitted that the Irish petrol buying community should add to the huge profits of the oil companies and this was allowed to happen.
That supplementary does not arise on a question about the profits of the oil companies.