A Clare oil merchant is warning the cost of fuel will increase, despite the decision to extend excise duty cuts, saying petrol stations won’t be able to absorb rising costs for much longer.
It comes as the Dáil is set to be recalled this Friday to finalise the extension of the fuel excise cuts until Budget Day.
Cuts to excise duty were due to be phased out from September 1st, but will continue until at least October.
Ceann Comhairle Verona Murphy has summoned the Dáil to meet at noon this Friday, to further extend the cuts after they were prolonged in July after nationwide fuel protests.
Customers at the pumps today are paying approximately €1.89 for a litre of petrol, with diesel currently €1.94 per litre.
Kilmurry Fianna Fáil Councillor and oil merchant, Alan O’Callaghan, says price gouging isn’t taking place but that forecourts may have no choice but to increase prices.
A barrel of Brent Crude Oil, a major international benchmark for oil prices, is fetching around $92 dollars this morning, $14 more than at the start of the month.
Fuel prices are also considerably higher this year than they were in 2010, when motorists were paying around 65 cent less at the pumps.
Ennis-based Irish Road Haulage Association Deputy Vice President Eugene Drennan says the haulage industry will be seriously at risk if fuel maintains its current price.
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