James Reilly (Dublin North, Fine Gael)
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Question 26: To ask the Tánaiste and Minister for Enterprise, Trade and Employment when she expects to receive the National Consumer Agency's report on petrol and diesel prices; the action she is empowered to take on foot of the report; and if she will make a statement on the matter. [41286/08]

Emmet Stagg (Kildare North, Labour)
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Question 30: To ask the Tánaiste and Minister for Enterprise, Trade and Employment her views on recent EU figures which suggested that consumers are being charged up to 20% more for diesel and petrol; the steps she will take to ensure that consumers receive fair treatment in regard to petrol and diesel prices; and if she will make a statement on the matter. [41758/08]

Mary Coughlan (Donegal South West, Fianna Fail)
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I propose to take Questions Nos. 26 and 30 together.

I am aware of the concerns expressed by a number of commentators in relation to the retail price of fuel products, such as petrol and diesel, and particularly that prices have not fallen commensurate with reductions in the wholesale price of oil. I am also aware of the findings of the Consumer Petroleum Price Products Survey published by the Energy and Transport Directorate General of the European Commission which showed that the average retail price of petrol and diesel in Ireland was significantly greater than the weighted average price for such products throughout the Euro 15 region. I would point out that the Commission's survey related to retail prices on 20th October, and that pump prices in Ireland have dropped significantly since then.

Notwithstanding these developments, Deputies will be aware that in September this year, I requested the National Consumer Agency to undertake a survey into the underlying reasons as to why pump prices for petrol and diesel have not fallen in line with the drop in the wholesale price of oil. I understand that the Agency's work in relation to this matter is well underway. As part of its work, the Agency will seek to benchmark movements in prices in Ireland against those in other EU countries and it will also seek to examine the frequency and the timeliness in which changes in the wholesale price are being passed on to consumers. The Agency has been conducting surveys of retail prices throughout the country, and is engaging in a series of meetings with the main distributors, the Department of Communications, Marine and Natural Resources (D/CMNR) etc. I am advised that the Agency expects to finalise its report in the coming weeks.

Another factor which must be taken into account when looking at the underlying determinants behind retail fuel prices is exchange rate fluctuations and, in particular, the relative value of the Euro against the dollar. In this regard it is worthwhile to note that the Euro was trading at a high of $1.599 on 15 July whereas it is now trading at $1.266. This loss in value against the dollar will offset to some degree any benefits accruing.

Given the significance of recent developments in the wholesale oil market and the changes in value between the Euro and the dollar, I feel it is important that there should be greater transparency between the manner in which the retail price for fuel paid by consumers follows changes in the wholesale price and I look forward to receiving the National Consumer Agency's report on this matter.