Kathleen Lynch (Cork North Central, Labour)
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Question 183: To ask the Tánaiste and Minister for Finance his views on the reduction in the price of a barrel of oil due to the appreciation of the euro against the dollar; when and if this trend can be expected to be passed on to customers at the petrol pumps and in the price of home heating oil; and if he will make a statement on the matter. [10549/08]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The price of oil in Ireland is affected by movements in the euro-dollar exchange rate and by changes in the dollar price. In recent days, the wholesale price of oil in dollar terms has reached record levels. Therefore, an appreciation of the euro-dollar exchange rate does not necessarily mean that the price of oil, and hence the price of various refined products sold to the public, will decline here in the immediate future.