On 6 May 1991, when publishing the Fair Trade Commission report on petrol supply, I announced my intention to de-regulate the petrol supply industry here by removing existing restrictive practice and price controls after the Competition Bill currently before this House is in place. No suggestion on the lines indicated by the Deputy has since been made to me. The commission took the view that re-regulation would be beneficial for competition in this industry and that prices would ultimately fall more into line with those in other north western European countries. I made clear in my announcement that I retained the option of reintroducing controls in order to ensure that the consumer benefits anticipated by the commission are indeed realised.
I would draw the Deputy's attention to my reply in this House to his Question No. 170 on 24 October 1990, where I emphasised the impact on petrol prices of different rates of taxation levied here and in Northern Ireland. As the House will be aware, there has since been further convergence of VAT rates applying here and in Northern Ireland due to 1991 budgetary decisions by the respective Governments.
