Fianna Fáil TD asks to cap diesel and gasoline prices for three months

A Fianna Fáil TD has called for a price cap on diesel and gasoline to be introduced for three months.

ianna Fáil’s spokeswoman for transport, James O’Connor, called on the Treasury Department to urgently introduce the measure amid the fuel crisis sparked by the war in Ukraine.

Mr. O’Connor also accused major fuel suppliers of taking advantage of the international crisis for financial gain.

“A sharp increase in fuel prices does not mean an increase in oil prices. When oil prices hit $145 per barrel in 2008, fuel prices were expected to be significantly lower than the current market average diesel and petrol prices in Ireland,” he said.

“Price certainty is necessary to soften the upside and should be viewed on an interim basis. The direct impact of the rapid increase has had a negative impact on fuel supplies for transportation companies.

He added: “I welcome that the government is considering a number of measures related to the fuel situation and incentives to cap prices.

Meanwhile Sinn Féin said the excise tax cut could reduce the selling price at the pumps by 25c/litre and should be done immediately.

Party leader Mary Lou McDonald said a fiscal resolution could be introduced and passed at midnight, as is the case with the Budget measures, noting that the House of Commons would not sit next week.

The excise tax should also be removed from household heating oil, she added, with half a barrel currently costing €700 for households.

Taoiseach Michael Martin said the war in Ukraine would add to fuel costs. The government is acutely aware of this problem, he said.

We are not arguing that it is sustainable,” he said, noting the impact of inflation, including food inflation, due to Ukraine’s large grain exports to the West.

An EU toolbox is emerging on the issue of inflation, but the Government is also taking the matter “positively into consideration”, he said, before adding: “I don’t want to go into specifics right now. hour.”

However Tánaiste Leo Varadkar last week suggested in Dáil that the Government could cut the tax free of duty, with reports that ministers were examining a “revolving” system whereby overall retail prices could hold the reason for the increase in wholesale costs. According to this suggested response, state impositions will decrease in inverse proportion.

Mr Martin said the impact of the war would be “very severe and significant for all countries across the continent”, and would go a “long way” to solving all the problems. arise.

Ms. McDonald said energy and fuel prices spiked last year, and then more rapidly after Russia’s “criminal” invasion of Ukraine, which led to unprecedented disruptions in global energy markets. bridge.

The cost of gasoline at pumping stations, she noted, has increased by 70 cents a liter since January of last year. “And we are at a point where many people can no longer afford to put gas in their cars to get to work. This is especially difficult for people living in remote and rural areas, where they don’t have regular access to public transport,” she said.

In that same timeframe, since January 2021, the price of home heating oil has doubled, she said.

McDonald said she knows many people are “drying clothes,” either heating a room in their home, or choosing not to heat their house, she said.

“Some people are staying in bed to stay warm, especially the elderly,” she added.

She said the fuel price hike was not sustainable for any worker, family or small business, adding that what was announced by the Government in February was not enough to ease the pressures. this. Fianna Fáil TD asks to cap diesel and gasoline prices for three months

Fry Electronics Team

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