asked the Minister for Industry and Commerce if he will state (1) the number of increases in the retail price of petrol since January, 1956, and the total consequent increase in cost per gallon to the consumer; (2) the number of occasions on which these price increases were gained following a submission to the Prices Advisory Body; (3) the number of price increases made, allegedly on foot of increased transport costs, consequent on the Suez crisis and the total consequent increase in cost per gallon; further, whether he will insist on a reversion at least to the pre-Suez crisis price per gallon when normal traffic through the Suez Canal is resumed.
Ceisteanna—Questions. Oral Answers. - Price of Petrol.
asked the Minister for Industry and Commerce if he will state on what grounds the price of petrol was increased during the past 12 months, and if, in the more settled conditions now prevailing, he will ensure that a more equitable reduction than 1d. per gallon be made by the oil companies.
With the permission of the Ceann Comhairle I propose to take Questions Nos. 10 and 11 together.
Increases in the retail price of petrol took place on four occasions since January, 1956, and the total consequent increase in cost to the consumer up to 17th April, 1957, was 11½d. per gallon. A reduction of 1d. per gallon was made on 18th April, 1957. Of the total net increase of 10½d. per gallon, 6d. was accounted for by an increase of 5¾d. in duty, imposed by the Budget of 1956, and of ¼d. per gallon in the retailer's margin on standard grade petrol. The other increases were not the subject of investigation by the Prices Advisory Body. They arose mainly from factors external to this country. It is not possible at this stage to say what other considerations affecting the price of petrol may prevail when normal traffic through the Suez Canal is resumed, but it may be taken that all developments will be closely watched.