Dáil Éireann Debate, Tuesday - 26 June 2012
358 Deputy Bernard J. Durkan asked the Minister for Communications, Energy and Natural Resources the extent to which he has monitored the impact of oil, gas and commercial diesel prices on the economy, whether directly or in conjunction with his EU colleagues any particular procedure can be followed whereby the EU can avail of economies of scale through bulk purchase and or storage; and if he will make a statement on the matter. [31006/12]
Amharc ar fhreagraI have no statutory function in relation to energy prices, whether in the regulated or non-regulated energy markets. Energy policy objectives for Ireland and the European Union are delivering security of supply and reducing the impact of energy costs for consumers and business, through the development of renewable energy resources, enhanced energy efficiency and greater competition. National and EU energy policy objectives are also informed by the critical work of the International Energy Agency (IEA) on all aspects of energy supply. The Government's energy efficiency and renewable energy programmes including the Biofuels Obligation are aimed at moving Ireland's economy away from reliance on imported, carbon intensive fossil fuels, which are subject to price volatility.
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. The refinery price for oil products varies with demand and does not always move in line with crude oil prices. There is a time lag between movements in crude prices and refined prices. Prices at the pump reflect global market price, which is fluctuating, transportation costs, euro/dollar exchange rate fluctuations and other operating costs as well as the impact of taxes on oil products.
