asked the Minister for Industry and Commerce if, in the light of the recent price increases, he will state why he allowed the oil companies to make such huge profits on the oil and oil products which they held in stock on 31st December, 1974.
Ceisteanna-Questions. Oral Answers. - Oil Companies' Profits.
16.
I have no evidence that as a result of the increases in their wholesale prices which were implemented on 11th January, 1975, the oil companies have taken excessive profits on stocks of oil and oil products held by them on 31st December, 1974.
I assume that the Minister would have no evidence if he did not go looking for it. Did he through his Department or the National Prices Commission make any effort to check to enable him to make such a statement as the one he has just made?
As the Deputy will be aware since he was my predecessor, stocks are the responsibility of the Department of Transport and Power. Both the NPC and the Department of Transport and Power have evidence.