Oireachtas Joint and Select Committees

Thursday, 4 December 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Fiscal Assessment Report - November 2014: Irish Fiscal Advisory Council

3:00 pm

Photo of Michelle MulherinMichelle Mulherin (Mayo, Fine Gael) | Oireachtas source

My question is on energy prices and the cost of fuel. We know the cost of a barrel of oil has come down significantly, by up to 40%. Unfortunately, we do not see this reflected in any way at the forecourts of the filling stations. Why is this the case? Is there not a compelling reason to try to push down the cost of fuel for both heating and transport? This would tackle a lot of problems, including fuel laundering and petrol stretching, which are related to the cost of fuel in the first instance. Other issues are fuel poverty and the cost of doing business. Is there a cartel in operation meaning that the reduction is not being reflected in people’s fuel bills?

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