Fuel Prices

Dáil Éireann Debate, Tuesday - 26 April 2022

Tuesday, 26 April 2022

Questions (269)

Claire Kerrane

Question:

269. Deputy Claire Kerrane asked the Minister for the Environment, Climate and Communications if he will consider engaging with the Minister for Public Expenditure and Reform on the possibility of ringfencing 200 million litres of agricultural green diesel for the farm and forestry contractor sector up until the end of September 2022 to ensure that they can carry out essential work in saving fodder and tillage crops this summer given concerns for shortages which must be avoided and given the pressure the sector is under with increasing fuel costs; and if he will make a statement on the matter. [19954/22]

Written answers

Minister for the Environment, Climate and Communications

Ireland is required, under its membership of the International Energy Agency (IEA) and the European Union, to hold strategic oil stocks equivalent to 90 days of net imports. The National Oil Reserves Agency (NORA) maintains these strategic reserves on behalf of the State. These stocks may be released to the market in the event of a serious shortage of petroleum products arising in domestic supply chains or as part of an IEA co-ordinated release. Since the onset of the conflict in Ukraine, my Department, NORA and the oil industry have, on a daily basis, monitored the volumes of product currently in the domestic supply chains, as well as tracking future expected consignments of product due to arrive at the commercial terminals, in order to identify any upcoming supply deficit.My Department and NORA maintains plan to respond to supply deficits. The State's strategic reserves are in place to aid all sectors of the economy, including agriculture, and the importance of maintaining the availability of diesel and agri-diesel, in particular, is very much understood.