Jim O'Keeffe (Cork South West, Fine Gael)
Link to this: Individually | In context

Question 141: To ask the Minister for Finance if his attention has been drawn to the impact of the increase in diesel prices on the cost of freight for Irish producers; and if he will make a statement on the matter. [26671/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

I can assure the Deputy that I am aware of the impact of higher diesel prices on freight costs for Irish producers.

Fuel prices are driven by a number of factors, including the price of oil on international markets, exchange rates, production costs and refining costs. The rise in oil prices over recent periods reflected additional factors such as geopolitical uncertainty, supply disruptions and strong economic growth in "catch-up" countries such as China. However, mineral oil taxes are a factor influencing fuel prices. In this regard, proposals submitted to me, from those most affected by the rising costs, which seek changes in the taxation on fuel, will be considered in the context of preparations for the forthcoming budget.