Oil prices are now at record levels while the wholesale price of gas has doubled in just a week
The government must immediately act to reduce the cost of fuel – and must also ensure that price gouging at the pumps is not taking place, according to Social Democrats Climate Spokesperson Jennifer Whitmore.
“The cost of fuel is skyrocketing to unprecedented levels and the government must take immediate action to support families and businesses who are crippled by these additional costs.
“The Social Democrats previously called on the government to cut VAT to reduce the cost of energy, but it refused. Senior ministers have now stated that excise duty may be cut, but there appears to be no urgency to act.
“I was concerned to read media reports today which suggested the government wants to lock in prices at their current unsustainable level and cut excise duty only if prices continue to spike. This is not a credible response.
“Oil prices are now at record levels while the wholesale price of gas has doubled in just a week. This is causing extraordinary hardship – to workers, families and businesses – all over the country.
“It is also regrettably the case that some retailers may be taking advantage of large fluctuations in global energy costs to engage in price gouging. The government must ensure this is not taking place. The Irish Competition and Consumer Protection Commission should have a role in monitoring wildly fluctuating prices at the pumps to guard against price gouging.”
8 March, 2022