Gerry Horkan (Fianna Fail) | Oireachtas source

I thank the witnesses for being here. I think it is Mr. McIlduff's first time as CEO so he is welcome. All the witnesses in the room and attending remotely are welcome. They will be surprised how fast the five minutes goes.

I take Mr. Blevings' point that when the Government introduces an excise duty cut, there is stuff in the tank. However, in the past when the price went up at normal budget time, presumably the stuff in the tank was bought prior to the excise increase yet the price always went up at midnight. Would it be fair to say that also needs to be looked at? Have IPRA members in the past benefitted from buying fuel at a lower price, selling it at the higher price after an excise cut and keeping the difference?