andMr. Pattison asked the Minister for Industry, Commerce and Energy the reductions in the prices of petrol and ESB charges arising from the floating of the pound by the British Government and when these reductions will be implemented.
Written Answers. - Floating of the £ Reductions.
526.
The effects of the floating of the pound on petrol prices and ESB charges are being kept under review.
In regard to petrol prices, under the current price control arrangements Irish wholesale prices are linked to the corresponding prices in the Outer Zone of the United Kingdom. In the short-term it suits us to retain this link because as a result of competition among oil companies in Britain and Northern Ireland we are able to benefit. Any reduction in petrol prices in the United Kingdom will be given effect in this country within seven days.
In regard to ESB charges, any reduction in the price of fuel oil as a result of the floating of the pound will be taken into account when the fuel surcharge is next reviewed in time for the April-May 1978 billing period.