Fuel Prices

Dáil Éireann Debate, Wednesday - 5 December 2018

Wednesday, 5 December 2018

Questions (268)

Róisín Shortall

Question:

268. Deputy Róisín Shortall asked the Minister for Communications, Climate Action and Environment the reason he has not appointed a regulator to regulate and monitor the market for home heating oil; if he will provide the last market monitoring report, competition report, consumer protection code or consumer survey report produced by his Department or by a body under the aegis of his Department on the market for home heating oil; and the way in which he plans to promote competition, protect consumers and ensure sustainability in the market. [51073/18]

Written answers

Minister for Communications, Climate Action and Environment

The Irish retail oil sector, including the supply of home heating oil, is an open and competitive market.

The retail price of home heating oil is determined by a number of factors, including the price of crude oil and refined product on the international markets, market supply and demand levels, and as oil is traded almost exclusively in US Dollars, the strength of that currency against the Euro.

The Competition and Consumer Protection Commission (CCPC, under the aegis of the Minister for Business, Enterprise and Innovation) is responsible for ensuring that the market is functioning correctly and that consumers are not being unfairly disadvantaged.