Thousands of Irish drivers facing ‘painful’ fuel price hikes in just WEEKS

THOUSANDS of Irish drivers are facing “imminent and painful” fuel price hikes, it has been warned.

Fuels for Ireland said the “clock is ticking on Ireland’s fuel prices” and warned that prices are set to increase again in just a few weeks.

They urged that the new Minister for Finance Jack Chambers needs to act swiftly before the Dail goes on summer recess this Thursday.

Increases on excise duty of fuels are set for August 1, having already been hiked in April.

This will see an increase of four cents per litre for petrol and three cents per litre for diesel.

With this further increase, the group said the Government is simply “gouging hard-pressed consumers”.

They warned that motorists close to the border are driving to Northern Ireland to fill up their tanks and said a further tax increase “risks the viability of businesses in these areas”.

FFI also warned drivers that there’s “other baked-in increases coming down the line”.

They said: “On Budget night, the already agreed carbon tax increase will add 2cpl, and then the increased level of the Renewable Transport Fuel Obligation will add another 2cpl on January 1st.

“Each of these is before VAT is applied, meaning a total increase of 5cpl to petrol and diesel in the next six months, even without the excise duty increase scheduled for August 1st.

“On top of that, and despite the excise duty cut, the Government has not lost any tax revenue.

“In fact, they collected more in 2023 than ever before because VAT is a percentage of the pump price, and so high fuel prices mean extra income for the State.”

CEO of Fuels for Ireland, Kevin McPartlan said the imminent increase in excise duty scheduled for August 1st will “directly impact” consumers.

Those in border counties, where the price gap with the UK is already causing “significant challenges”, will be particularly affected.

Mc Partlan said:“On behalf of FFI and our members, I urge the Government to act now to prevent exacerbating these issues, as it is not fair for consumers to bear this additional burden.

“With the Oireachtas rising this Thursday July 11th, the Minister is short on time and needs to make a decision before the Dail goes on summer recess.”

McPartlan said is it “crucial” that “immediate action” is taken.

He said: “If no changes are made, the excise duty increase will proceed as planned.

“This issue should be a top priority on the new Finance Minister’s agenda.

“Postponing the excise duty increase and establishing the Expert Group on Taxation will demonstrate a commitment to balancing fiscal responsibility with consumer affordability.”