Vol. 395 No. 8
42 Mr. Howlin asked the Minister for Industry and Commerce if, in the course of monthly price reviews of the price of petrol and petrol products, he has any proposals to change the formula of calculation to widen the price differential further in favour of unleaded petrol; and if he will make a statement on the matter.
As the Deputy will be aware, the differential in the retail price of unleaded petrol as compared to leaded petrol was facilitated by budget decisions since 1988 which provided for a lower rate of excise duty to apply to unleaded petrol. It did not arise from the ongoing monthly reviews by my Department of the price of certain petroleum products. In the most recent Maximum Prices Order I decided to introduce, for the first time, a maximum retail price for unleaded petrol in order to ensure that the consumer benefited to the full extent envisaged by the Government from the recent lowering of the excise duty on the unleaded product.
