Fuels for Ireland on claims of hole-punch: ‘It’s completely unrealistic to tell people they’ll see an immediate drop’

The CEO of Fuels for Ireland has claimed petrol stations are not involved in price gouging.

Fuels for Ireland sent a letter today to Taoiseach Michael Martin, Fuels for Ireland said its members were “deeply displeased” about a number of “misleading claims” the industry has engaged in profiteering.

Earlier this week, Taoiseach told Fianna Fáil TDs that any price after excise cuts are “morally reprehensible”.

Kevin McPartlan said wholesale prices had risen rapidly ahead of the Government’s decision to cut excise tax on fuel.

“That is not at all because in the next 24 hours when the government announces excise cuts, the wholesale price of diesel has increased by 22c/litre. So the 15c/liter reduction was wiped out before it went into effect,” he said.

“The other thing that the Government announcement was misleading is that they told consumers it would have an impact from midnight of the night it was announced.

“That’s incorrect because every drop of fuel heralded at midnight already has a higher paying mission.

“So it’s completely impractical to tell people that they should see an immediate drop.”

Auto dealers have accused some petrol retailers of driving up diesel and petrol prices ahead of the move to cut excise taxes on diesel to 15c/litre and petrol to 20c/litre.

Many people have shared online time-stamped images showing the price increase they believe was introduced before the excise tax cuts went into effect at midnight on Wednesday.

Over the next few days, prices “will” fall “mostly” across the country, Mr. McPartlan said.

“One thing that we have to realize is that in some places it can take two or three days for that excise cut to be reflected in pump prices. He told RTÉ’s Morning Ireland.

“Also, there is some good news that wholesale prices have actually corrected quite a bit over the past few days, so we should see that as well. So over the next few days, prices will drop largely across the country.”

Fuels for Ireland will meet a number of Government ministers this afternoon to discuss the matter.

Mr. Partlan said if a station is selling fuel it delivered before the excise cut, the price will not be immediately reflected in the pump price.

Because prices have fluctuated “so wildly” over the past few weeks, he said, conventional predictions for what motorists can expect to pay at the pumps are not “valid” at the moment.

“It can be expected from the fact that wholesale prices have dropped over the past few days and the excise tax is still taking a hit,” he said.

“Our prices are in the big, externally lit numbers the foreground, everyone can see them. That really promotes competition and the fuel margins are very tight, if you go to a fuel station and it’s 70€ worth of diesel, and I go and buy a Capuchino for €2.50, the profit from coffee will be much higher. ”

https://www.independent.ie/news/fuels-for-ireland-on-claims-of-price-gouging-it-was-completely-unrealistic-to-tell-people-that-they-should-see-a-decrease-straight-away-41435384.html Fuels for Ireland on claims of hole-punch: ‘It’s completely unrealistic to tell people they’ll see an immediate drop’

Fry Electronics Team

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