Paul O Mahoney
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Joe it was that for an hour on the spot market, and refining costs are up because their are fewer refineries, most are independent now as the big boys got out due to lower profits.In 2008 the oil price was $140 a barrel yet the price of a litre of diesel or petrol was nowhere near now , it was around 130cent a litre then.
Now the price of a barrel of oil is $120 yet the price of a litre of petrol is 220c almost a euro extra even though oil is lower now than 2008.
I know there are now higher refining costs but the vast bulk of that differential is large taxation increases.
To say that fuel taxes cannot be reduced is rubbish, the esri are talking nonsense
If anyone needs a break it's the people that drive to work every day and keep this country running
Also as oil is bought in dollars the exchange rate is another factor.
And as you say taxes have added to the mix.