Cork refinery closure could cost Munster consumers €10m a year

The closure of Whitegate oil refinery could cost consumers in Munster nearly €10m a year in higher oil prices, a Government report has said.

The report, entitled Study of the strategic case for oil refining requirements on the island of Ireland, found that if the Whitegate refinery was closed and not reopened as an oil importation terminal, consumers in Cork, Kerry, Limerick, Waterford, Tipperary, and Clare would be forced to pay higher oil prices.

“In the event that Whitegate ceased operating as a refinery, the oil consumer could be in a vulnerable position unless some provision was made well in advance to ensure the controlled transition of Whitegate to a terminaling mode,” the report said.