Séamus Kirk (Louth, Fianna Fail)
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Question 130: To ask the Minister for Communications, Energy and Natural Resources his plans to reduce the price of diesel and petrol in view of the significant decrease in the price of crude oil; and if he will make a statement on the matter. [31148/12]

Pat Rabbitte (Dublin South West, Labour)
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I have no statutory function in relation to the setting of diesel and petrol fuel prices. The oil market is fully liberalised and deregulated. Prices at the pump reflect global market price which is highly volatile, transportation costs, Euro/Dollar exchange rate fluctuations, operating costs as well as taxes. As the Deputy will be aware the taxation of diesel and petrol is a matter for my colleague the Minister for Finance.