Dessie Ellis (Dublin North West, Sinn Fein) | Oireachtas source

The Government has announced planned increases to fuel prices that will only exacerbate the problems of the already burdened ordinary workers and families across the country. Petrol and diesel prices have been subject to a steady rise since May, but it is the recently announced sharp increases that will have a significant impact on the pockets of the public. The planned increases come at an untimely moment, when individuals are still grappling with economic uncertainties caused by the global pandemic.

Moreover, many people rely heavily on personal vehicles for commuting, making them highly vulnerable to rising fuel costs. Forcing individuals to bear this additional financial strain is not just unfair but also causes unnecessary stress given the current cost-of-living crisis. The proposed increases to the cost of petrol, of 10 cent per litre, and to the cost of diesel, of 8 cent per litre, will push the costs of these two fuels closer to €2 per litre by October's end. Such a steep hike will undoubtedly affect individuals' budgets significantly, particularly those who rely on their vehicles for work or essential travel. The overall cost of living will rise as the effects of transportation costs trickle down into other sectors, such as food production, small business and even public services like healthcare. Higher fuel prices can also prove detrimental to various sectors, such as transportation, agriculture and small business.

Transportation costs will escalate substantially, increasing expenses throughout supply chains. Farmers who rely heavily on machinery powered by diesel engines will face higher operational costs, which may result in decreased agricultural productivity or an increase in produce prices for consumers. Small businesses that depend on regular deliveries or transport services may struggle to absorb elevated transportation expenses without passing them on to customers. These planned fuel price increases are not only untimely but also a burden on ordinary workers and families, who are already facing economic challenges. The consequences of these hikes range from increased living costs to negative impacts on various sectors of the economy and they should be scrapped.

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