'Absolutely reckless' to reimpose excise cuts - fuel body

The representative body for Ireland's major fuel importers, distributors, and retailers has labeled any reimposition of excise duty cuts as "absolutely reckless." Fuels for Ireland issued this warning after the government indicated that the reductions, initially implemented in March amid global uncertainty, remain under review. These cuts are scheduled to be reversed next month. Kevin McPartlan, Chief Executive of Fuels for Ireland, acknowledged that the reductions were intended as a temporary measure. However, he pointed out that "commodity prices that we're experiencing in August are higher than they were in March." McPartlan cited diesel prices between €1.91 and €1.93 per liter on Thursday morning. He explained that adding back the 32c excise duty cut and the 2c National Oil Reserves Agency (NORA) levy suspension would bring the price to €2.25 per liter. This, he stated, is higher than the price when the decision was made to introduce the excise cuts. McPartlan warned that reimposing these excise duty cuts and the NORA levy, coupled with the government's committed Carbon Tax increase on Budget night and anticipated price hikes from changes to the Renewable Transport Fuel Obligation scheme in January, could add over 35c per liter to current prices. He called for a strategic review of all costs associated with fuel prices, suggesting it would provide "levers to address" the issue. McPartlan emphasized that fuel is an essential commodity, not a discretionary purchase, stating, "Nobody decides whether they're going to use fuel based on the price - or very, very few people do." He argued that this is particularly true for those in rural areas, affecting daily activities like taking children to school or commuting to work, and impacting businesses' ability to deliver products to market.

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The commodity prices that we're experiencing in August are higher than they were in March.