Terence Flanagan
Ceist:329 Deputy Terence Flanagan asked the Minister for Communications, Energy and Natural Resources the position regarding fuel pricing; and if he will make a statement on the matter. [12684/12]
Amharc ar fhreagraTuesday, 6 March 2012
Ceisteanna (274)
Freagraí scríofa
Ireland is a price taker in the global fossil fuel market. The Irish oil industry is fully privatised, liberalised and deregulated and there is free entry to the market. There is no price control on petroleum products and it has been the policy objective of successive Governments to promote price competition and consumer choice.
Previous surveys have shown that prices which Irish retailers charge for oil products, relate to the refinery price rather than to the price of crude oil. Prices at the pump reflect the volatile market price, transportation costs, euro/dollar fluctuations and other operating costs as well as the impact of taxes on oil products. Taxation of fuel products including petrol is a matter for my colleague the Minister for Finance.