Oireachtas Joint and Select Committees

Wednesday, 23 March 2022

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Fuel Costs: Competition and Consumer Protection Commission

Mr. Jeremy Godfrey:

I am not really in a position to forecast what might happen to the price of crude oil and how that might impact the pump prices in Ireland or how that differs from one country to another. I am aware of the ESRI forecasts that were also in this morning's papers that inflation across the economy is expected to reach unprecedented levels or levels not seen since the 1980s. The impact on consumers, Irish citizens and the most vulnerable in society is going to be a big issue this year. While I cannot comment on the precise levels, it is clearly going to be something that we all will need to pay attention to.