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EU Probe Into Irish Fuel
The European Commission is to investigate fuel prices in Ireland and elsewhere amid allegations that oil price falls are not being faithfully passed on. Competition Commissioner Neelie Kroes said that she was responding to representations from Europe's motoring organisations conveyed via the umbrella-group Federation Internationale de l'Automobile (FIA) of which AA Ireland is an active member.
“AA Ireland was the first to call for this last May, just as prices were soaring. Ourselves and the Austrian club – the OAMTC – led the push for it.” Says Conor Faughnan. “Irish wholesale prices are 20% higher than the European average.”
Commissioner Kroes praised the work of the Automobile clubs and said that the Commission “stands ready to act expeditiously to stop any anticompetitive behaviour on these markets and thereby protect consumers”.
AA Ireland looks forward to helping with the work. There have been sharp consumer criticisms of local pricing in countries like Austria, the UK, Portugal and of course Ireland. In Ireland’s case the high price is partly explained by geography. We are an off shore island that produces no oil, and every drop that our oil-intensive economy uses must be physically shipped in. Malta is in a similar position and pays a similarly high price. But there may be more to it and it needs to be investigated.
How much does petrol actually cost?
Most of what we pay for fuel is tax, but the proportions are not often appreciated. All the debate about oil prices, shipping costs, retailer margins and rip offs all concern less than a third of the price that we pay.
| February 2009 : Petrol average price 101.4 cent |
|---|
| Excise Duty |
52.7 |
| NORA: |
0.48 |
| VAT: |
17.9 |
| Tax Price: |
71.08(70%) |
| Base Price |
30.32 |
| February 2009 : Deisel average price 97.0 cent |
| Excise Duty |
36.8 |
| NORA: |
0.48 |
| VAT: |
17.1 |
| Tax Price: |
54.38(56%) |
| Base Price |
42.62 |
Looking at tea-leaves...
Right now the omens for fuel prices are not great. Oil has risen to $45 dollars and the dollar itself is strengthening slight against the Euro. Hence we do not expect fuel prices to fall in the coming weeks and they may even rise a little more.