Tommy Broughan (Dublin North East, Labour)
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Question 131: To ask the Minister for Communications, Energy and Natural Resources his views on the response from UK Prime Minister Mr. Gordon Brown in relation to the reluctance of fuel companies to reduce their prices in accordance with falling oil and gas prices worldwide; the response he will take in relation to fuel prices here; and if he will make a statement on the matter. [37133/08]

Bernard Durkan (Kildare North, Fine Gael)
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Question 168: To ask the Minister for Communications, Energy and Natural Resources the action he has taken or proposes to take nationally or in conjunction with his EU colleagues to ensure that the recent fall in oil prices in the world markets is passed on to the consumer here having particular regard to the expected negative impact, socially and economically, arising from ongoing and unnecessary gas and electricity price rises to the consumer; and if he will make a statement on the matter. [37243/08]

Bernard Durkan (Kildare North, Fine Gael)
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Question 409: To ask the Minister for Communications, Energy and Natural Resources the action he has taken unilaterally or in conjunction with his EU colleagues to prevent unregulated speculation in the oil industry which has resulted in inflated energy prices, nationally and internationally in the past 12 months; and if he will make a statement on the matter. [37575/08]

Eamon Ryan (Dublin South, Green Party)
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I propose to take Questions Nos. 131, 168 and 409 together.

The Irish oil industry is fully privatised, liberalised and deregulated and there is no price control on petroleum products in Ireland. There is free entry to the market. Prices at the pump reflect global market price, transportation costs, Euro/Dollar fluctuations and other operating costs. Price differences are an ongoing feature of the market economy and it is a matter for retailers to explain price differences where they occur.

The retail price of all carbon fuels, including oil products, increased significantly in the first half of this year, but in recent months prices have been falling. I am advised that the prices that Irish retailers charge for oil products relate to the refinery price rather than to the price of crude oil. The refinery price for oil products varies with demand and does not always move in line with crude oil prices. There is a time lag between movements in crude prices and refined prices. The dollar-euro exchange rate is also a significant factor as oil is traded internationally in dollars.

The National Consumer Agency has specific responsibilities for protecting the rights of consumers. Under the Retail Price (Diesel and Petrol) Display Order, 1997, petrol stations are required to display their prices in a clear and prominent manner so that consumers can make an informed choice. The National Consumer Agency has responsibility for enforcing this Order. In addition, the Competition Authority is a statutory independent body with a specific role in the enforcement of competition law. Its function is to ensure that competition works optimally for the benefit of consumers throughout the country. Responsibility for the National Consumer Agency and the Competition Authority lies with my colleague, the Tánaiste and Minister for Enterprise, Trade and Employment.

The regulation of ESB electricity tariffs and BGÉ gas tariffs is the statutory responsibility of the Commission for Energy Regulation (CER) under the Electricity Regulation Act. I understand that the Commission has commenced phase two of its tariff review of ESB and Bord Gáis Energy Supply. Any variation that may be applied to electricity and gas tariffs from 1 January 2009 is a matter for the Commission.

The upward global trend in energy prices generally reinforces the imperative for Ireland to reduce its dependency on fossil fuels and to use energy wisely and efficiently. The Government is committed to accelerated delivery of our targets for renewable energy, which in the area of electricity has recently been increased to 40% by 2020, and energy efficiency which are essential to ensure a sustainable energy future for the economy and consumers. My Department is working with other key Government Departments on initiatives to accelerate the deployment of renewable energy in electricity, transport and heating, and to implement major energy efficiency and demand management programmes for both domestic and business consumers.

The continued global volatility in energy prices is a cause for concern among EU Member States and I am working with my EU colleagues on strategies to enhance security of supply sustainability and competitiveness. These include the acceleration of renewable energy and energy efficiency measures, ongoing investment in energy infrastructure, increasing the transparency of oil and gas markets and enhanced dialogue with oil and gas producing countries.