Áine Brady (Kildare North, Fianna Fail)
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Question 185: To ask the Minister for Finance the positive effects of the recent drop in crude oil prices for the Irish economy; and if he will make a statement on the matter. [42401/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Oil prices have eased recently on global commodity markets. This is primarily due to a fall in demand arising from a weakening in the international economic outlook. This development will have a number of positive impacts upon the Irish economy. Measured in euros, the wholesale price of oil has fallen by over 40 percent from its peak reached during July. This decline has led to a fall in the price of transport fuel and home heating oil in Ireland in recent months and has placed downward pressure on overall inflation thereby supporting real disposable incomes.