Dáil Éireann Debate, Tuesday - 2 November 2004
313 Mr. Wall asked the Minister for Enterprise, Trade and Employment his views on the major discrepancies in regard to diesel and petrol prices here; the plans his Department has to address the problem; the effect this is having in regard to potential employment losses due to the huge increase in travel costs; and if he will make a statement on the matter. [27187/04]
View answerThe significant oil price increases that have occurred since the beginning of this year have been caused by a combination of strong demand, tight capacities, political uncertainty and some market speculation. The International Energy Association has warned that sustained high oil prices will adversely affect the economic performance of eurozone countries. Ireland has no control over world oil prices. However, given their impact on economic performance the Government is determined to ensure that any adverse effects are limited by strengthening our competitiveness and ensuring that we are in a position to adapt to changing global economic circumstances.
The Competition Authority, which is an agency of my Department, is charged with enforcing Irish competition law to ensure that our markets are working efficiently and for the benefit of consumers and of the economy as a whole. I am not aware of any competition difficulties in relation to the market for diesel and petrol. However, if the Deputy is aware of any such difficulties I would recommend that he bring them to the attention of the Competition Authority.
Under the Retail Price (Diesel and Petrol) Display Order 1997, sellers of petrol and diesel are legally obliged to display their selling prices. I would urge all consumers including businesses to empower themselves by availing of the lowest price in their locality.
