Dáil Éireann Debate, Thursday - 15 November 2012
27. Deputy Timmy Dooley asked the Minister for Finance his views on whether it would be advantageous for transport providers and users if he followed the example of the new French Administration and reduced excise duties on fuel; and if he will make a statement on the matter. [45180/12]
Amharc ar fhreagraIreland, as with other countries, has experienced an increase in fuel prices. This increase is an international phenomenon. Fuel prices are driven by a number of factors including the price of oil on international markets, exchange rates, production costs and refining costs. The rise in oil prices over recent periods reflected additional factors such as geopolitical uncertainty in Northern Africa and the Middle East with potential supply disruptions. While fuel prices remain relatively high we have in recent times experienced a decline in prices. Any reduction in excise would give rise to significant costs to the Exchequer which would have to be met from increasing revenue in other areas.
