Oireachtas Joint and Select Committees

Wednesday, 23 March 2022

Joint Oireachtas Committee on Transport, Tourism and Sport

Fuel Prices: Discussion

Mr. Kevin McPartlan:

None of what we describe as oil majors, which are the big global companies such as Shell and BP, are in Ireland. They all came out of the Irish market. No members of Fuels For Ireland are in that territory at all. We have mainly Irish-owned companies. They are family-owned in a number of cases. There are a couple of multinationals. We do not have big global oil majors in Ireland. They are not our members. I cannot speak for what they may be doing. Our members are buying on international markets. That includes refineries buying crude oil to process, which incurs a cost and uses substantial energy. As energy costs have increased, the cost of refining oil has increased significantly. That has been a significant part of the global increase.

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