"From Wednesday, the cost of a litre of petrol and diesel is set to increase by around 2.5 cent on the back of tomorrow's budget. This is due to a rise in the carbon tax. And in the coming months another 2c to 3c will be added to the cost of a litre of petrol and diesel due to changes to the Renewable Transport Fuel Obligation scheme. This scheme aims to increase the amount of renewal fuel used by motorists."
"More than half of the cost of motor fuel at the pumps is made up of government taxes and levies. These include Vat, excise duty, carbon tax, and the National Oil Reserves Agency (Nora) levy. Fuels for Ireland wants the Government to set up an expert group on taxation to address what it describes as the "increasing burden" of fuel taxes on Irish motorists."
A 2.5 cent per litre increase in petrol and diesel will take effect from Wednesday because of a carbon tax rise. A further 2c–3c per litre increase will be added in coming months due to changes to the Renewable Transport Fuel Obligation scheme that increase renewable fuel use. Fuels for Ireland says the combined impact is about a 5c per litre rise in less than 12 weeks driven by government decisions. More than half of pump prices are taxes and levies, with AA Ireland calculating 65% of petrol and 60% of diesel costs go to the Exchequer. Fuels for Ireland has asked the Government to form an expert taxation group and met the Finance Minister to raise concerns.
Read at Irish Independent
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