Suppliers 'guarantee' fuel savings will be passed on to customers
The full effect of the excise reduction will be passed on, said Public Expenditure Minister Michael McGrath after a meeting with fuel suppliers.
The Government has received a guarantee from fuel suppliers that the excise reduction in fuel will be passed on to customers.
Public Expenditure Minister Michael McGrath held what sources said was a "full and frank discussion" with representatives of suppliers about alleged price gouging in the sector after the Government moved to reduce excise on fuel to help with the cost of living.
The sector has denied gouging has taken place.
“We received a commitment, a guarantee that, in all instances, the full effect of the excise reduction, if it hasn’t been passed on today because of the timing of the purchase of the stock, it will be within a matter of days,” said Mr McGrath.
A statement was issued by the Competition and Consumer Protection Commission (CCPC) on Friday evening too urging garage owners to remember the important role they play in times of crisis and to stay compliant with consumer and competition laws.
The CCPC said: "The war in Ukraine has created significant issues in a number of sectors, in particular the impact on fuel prices has created much concern and distress for consumers.
"Traders who provide essential everyday products, like fuel, play a very important part in our economy and in the lives of consumers. These traders are entitled to set their own prices independently.
"This is an important part of competition in a functioning market.
"However, at a time when volatile prices are having a significant impact on consumers it is imperative that traders remain compliant with competition and consumer protection laws at all times."
The meeting came as the Government confirmed hauliers are to be given a €100-a-week subsidy for the next eight weeks to tackle rising fuel costs.
Transport Minister Eamon Ryan and his minister of state Hildegarde Naughten confirmed the €18m scheme, calling it "an emergency support measure for licensed hauliers to address cost pressures arising from current high fuel prices".
The grant scheme will provide the €100-per-week payment for every heavy goods vehicle (over 3.5 tonnes) in the country.
"The haulage sector has a hugely important role to play in the economy and in keeping vital goods available to people and business — it is critically important to Ireland’s supply chains, both national and international," said Mr Ryan.
"The past two years have presented many challenges for the sector. Brexit, Covid-19, and now the crisis in Ukraine have put a cumulative pressure on the haulage industry.
Meanwhile, the Taoiseach said European leaders have discussed how to reduce their dependency on Russian oil.
Mr Martin said there was a lot of discussion at Friday’s summit that, notwithstanding the war, the level of price escalation on fuel has been “above and beyond what it should be".
He defended his comments earlier in the week which criticised instances of price gouging by petrol stations.
“What I said very clearly — and I said it at the parliamentary party meeting where a number of deputies were reporting instances where prices had gone up even in advance of the Government decision to cut excise — I simply said if anyone is engaging in price fixing or whatever like that, it is a matter for the Competition and Consumer Authority to investigate,” he said.
“At this meeting here, there was a lot of discussion around how, notwithstanding some difficulty in the market, the escalation in prices is above and beyond what it should be.
"That’s why there is a focus at EU level on the market and on pricing mechanism."
Last night, the Competition and Consumer Protection Commission confirmed it has received 83 complaints about fuel prices in the last week, the majority in the past 48 hours.
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