Charlie McCreevy (Kildare North, Fianna Fail)
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I have no plans to reduce excise duty in the manner suggested by the Deputy. Changes in taxation are made in the context of the annual budget and, accordingly, any requests made regarding changes in tax rates are properly for consideration in the period leading up to the budget. It is neither practical nor prudent to adjust tax rates between budgets, especially in response to what may prove to be a short-term problem. It should be noted that Ireland's current excise duties on petrol and diesel remain below those of many of our established EU trading partners.

The Deputy will appreciate that excise duties are but one element in the composition of motor fuel prices. The value of the US dollar, in which oil prices are set, and the level of competition between fuel suppliers are two vitally important factors in determining the price to the consumer. Given the variation in retail motor fuel prices throughout the State, it is essential that consumers shop around to further encourage competition and minimise price increases.