Cathal Crowe (Clare, Fianna Fail)
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282. To ask the Minister for Finance the measures that are being considered to offset the impact of rising petrol and diesel prices in Ireland for motorists; and if he will make a statement on the matter. [53000/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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The price of petrol and diesel is determined by a number of factors including taxation, the price of the raw materials, the prevailing exchange rates as well as the fact the different wholesalers can enter into forward contracts at different rates for the purchase of oil. The price of fuel on the forecourt is set by the individual retailer and would likely take into account the costs associated with the retail of the product such as those mentioned above together with the cost of having oil delivered.

The current spike in energy prices arises principally from the global recovery from the Covid-19 pandemic and is being witnessed across the European Union as well as many other regions.

On a national level, for large scale diesel consumers such as those involved in the road haulage and public transport sectors, the Deputy will be aware that the Diesel Rebate Scheme was introduced by my predecessor in 2013. This Scheme offers a partial excise refund to qualifying operators based on the retail price of diesel. The rebate kicks in when the price at the pumps goes above €1.23 per litre; increasing gradually to a maximum rebate of 7.5c when diesel reaches €1.43 per litre.

The Deputy may also wish to note that businesses that are registered for VAT may deduct the VAT charged to them on the purchase of business inputs, such as road diesel and other motoring costs.

It should also be noted that there is a significantly reduced rate of excise on green diesel which ensures costs for agricultural, fishing and construction are contained and provides for affordable transport via train.

My advice to consumers is to shop around and if possible use price comparison websites to ensure they receive the best value for money.