asked the Minister for Energy (i) the price per gallon of top grade petrol in December 1982, and the price today; and (ii) the world market price for a barrel of crude oil in December 1982, and the price today.
Ceisteanna — Questions. Oral Answers. - Petrol and Oil Prices.
9.
As regards petrol prices, it is not possible to make the comparison asked for in the question as the prices prevailing in December 1982 were controlled by maximum prices order. Price control was abolished earlier this year by the Minister for Industry and Commerce and each company is now free to charge the price which it deems appropriate. I have no responsibility in the monitoring of such prices.
As regards the price of crude oil, the free market price for Brent crude (North Sea) was $31.00 per barrel in December 1982 and is now $15.10 per barrel.
Does the Minister think that the oil companies treated consumers, motorists and those using home heating oil, fairly when one considers that the reduction in the price of a barrel of crude between 1982 and 1986 was more than 50 per cent? The reduction in the price of petrol and oil was very little.
I should like to refer the Deputy to a statement I made last evening when addressing representatives of the oil industry. It is my belief that the consumer should be getting more benefit from the reduction in price. However, in fairness to all involved in the industry I must point out that notwithstanding what happened in regard to the price of crude in the last four years excise duty and VAT on those products increased considerably. I should like to add that this is a matter I intend pursuing. I do not have a function in regard to pricing but it is my intention to bring the matter to the attention of those concerned because I believe that the reduction in crude prices should be reflecting a lower price at the pumps.
Will the Minister agree that the depreciation in the value of the US dollar by approximately 34 per cent should be a significant factor in the price of petrol and home heating oil on the Irish market? Will the Minister agree that we are not getting anything like the reduction those changes warrant?
The strength of the US dollar has a significant bearing on the price of crude and oil products.
The dollar has depreciated by 34 per cent in the last 12 months.
We are in agreement.
It is obvious that when controls are withdrawn prices are not competitive. Will the Minister accept that there is serious concern about the rake-off by oil companies?
I do not believe that the competitive market operates as it should. We are not getting the results people thought we would get for the economy.
Will the Minister keep our spokesman and myself informed about the progress in his pleas to the oil companies to be more even-handed in their treatment of Irish consumers? The Minister told us that he would be contacting the companies but that may not be a formal meeting, it may amount to whispering into somebody's ear at a reception.
That is not my style.
I wonder what the Minister has in mind when he says he will be making fresh approaches to the company.
I do not have any reservations about keeping the Question spokesman and Deputy Briscoe well informed for as long as necessary.
What action will the Minister be taking to protect consumers?
I am calling Question No. 10.
That question is listed to be taken in conjunction with priority question No. 33.
If the Minister wishes it will be taken later with No. 33.
What is happening to Question No. 10?
If it is being taken with a priority question and appears before a priority question on the Order Paper it is more appropriate to take it now.
I will do that to assist the House.