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Irish petrol prices 25% higher than EU prices

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  • 02-12-2008 10:26am
    #1
    DonJose
    Registered Users Posts: 3,470 ✭✭✭


    "Irish people are paying significantly more for petrol and diesel than the rest of the EU.

    Fine Gael says we are forking out €30m more every month, and it is not down to higher taxes.

    Motorists will not have missed the fact that the cost of petrol and diesel has dropped significantly in recent weeks. But according to Fine Gael, prices have not gone down enough.

    The party has been comparing the prices Irish motoroists are paying to what motorists in the EU are. According to the party's finance spokesman, Richard Bruton, petrol is 24% dearer here and diesel costs 18% more.

    Those figures are based on pre-tax prices, so higher taxes here are not to blame.

    Fine Gael says oil price decreases are not being passed on as quickly to us as they are elsewhere and wants the Government to intervene."

    http://www.rte.ie/business/2008/1202/petrol.html


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    #2
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,834 Mod ✭✭✭✭L1011


    Isn't this based on the same dodgy figures that are using old monthlys for Ireland vs. brand new weeklies for the EU?

    Our prices are close enough to the same and sure as hell not 25% higher than the EU average - taking individual specific instances might get the figures wider though.


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    #3
    andrewh5
    Registered Users Posts: 588 ✭✭✭andrewh5


    These figures are rubbish! The UK pay far more than we do!


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    #4
    DonJose
    Registered Users Posts: 3,470 ✭✭✭DonJose


    andrewh5 wrote: »
    These figures are rubbish! The UK pay far more than we do!

    Which is why I highlighted, "Those figures are based on pre-tax prices, so higher taxes here are not to blame."


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    #5
    DonJose
    Registered Users Posts: 3,470 ✭✭✭DonJose


    MYOB wrote: »
    Isn't this based on the same dodgy figures that are using old monthlys for Ireland vs. brand new weeklies for the EU?

    "Mr Bruton based his conclusions on pre-tax prices for oil products released by the European Commission on November 24. He said they showed that petrol was 24pc dearer, home heating oil was 19pc dearer and diesel was 18pc dearer."

    "However, the National Consumer Agency has suggested that tracking price differentials between Ireland and the EU is "impossible" because of differences in the way the respective figures are compiled. It added that it has almost completed a price survey on the costs of fuel and will issue a report to the Tanaiste by mid December."

    http://www.independent.ie/national-news/light-relief-for-esb-gas-bills-but-ripoff-at-pumps-1559907.html


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    #6
    Boskowski
    Closed Accounts Posts: 5,361 ✭✭✭Boskowski


    andrewh5 wrote: »
    These figures are rubbish! The UK pay far more than we do!

    Been in Birmingham last weekend and petrol was 89p.


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    #7
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,834 Mod ✭✭✭✭L1011


    DonJose wrote: »
    "Mr Bruton based his conclusions on pre-tax prices for oil products released by the European Commission on November 24. He said they showed that petrol was 24pc dearer, home heating oil was 19pc dearer and diesel was 18pc dearer."

    "However, the National Consumer Agency has suggested that tracking price differentials between Ireland and the EU is "impossible" because of differences in the way the respective figures are compiled. It added that it has almost completed a price survey on the costs of fuel and will issue a report to the Tanaiste by mid December."

    http://www.independent.ie/national-news/light-relief-for-esb-gas-bills-but-ripoff-at-pumps-1559907.html

    Our figures issued at November 24th would have covered weeks previous compared to what figures in other countries have.

    Pre-tax wise its entirely possible we've higher prices; like the way pre-tax we've the cheapest cars in Europe. Who on earth pays the pre-tax price?


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    #8
    Duiske
    Registered Users Posts: 3,087 ✭✭✭Duiske


    realcam wrote: »
    Been in Birmingham last weekend and petrol was 89p.

    which is e104.8, roughly the same as our average, i would think.


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    #9
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,636 Mod ✭✭✭✭Henry Ford III


    Duiske wrote: »
    which is e104.8, roughly the same as our average, i would think.

    It is but UK excise duty and VAT are higher, meaning their pre tax prices are actually much lower.


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    #10
    DonJose
    Registered Users Posts: 3,470 ✭✭✭DonJose


    Duiske wrote: »
    which is e104.8, roughly the same as our average, i would think.

    But the UK taxes and duty on petrol/diesel are a LOT higher than those in Ireland, if I remember correctly the UK petrol/diesel prices were roughly 25% higher than in Ireland. Now that the prices are roughly the same, it backs up Fine Gaels claim that Irish petrol prices are much higher than elsewhere in Europe.


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    #11
    [Deleted User]
    Posts: 3,621 ✭✭✭ [Deleted User]


    DonJose wrote: »
    "Mr Bruton based his conclusions on pre-tax prices for oil products released by the European Commission on November 24. He said they showed that petrol was 24pc dearer, home heating oil was 19pc dearer and diesel was 18pc dearer."

    "However, the National Consumer Agency has suggested that tracking price differentials between Ireland and the EU is "impossible" because of differences in the way the respective figures are compiled. It added that it has almost completed a price survey on the costs of fuel and will issue a report to the Tanaiste by mid December."

    http://www.independent.ie/national-news/light-relief-for-esb-gas-bills-but-ripoff-at-pumps-1559907.html
    Ah the National consumer agency..

    Another useless Quango attempting to justify its existence.


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    #12
    craichoe
    Closed Accounts Posts: 2,706 ✭✭✭craichoe


    109.9 Cent / Litre at Rotterdam this morning for Diesel, Petrol was 122.9


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    #13
    yop
    Moderators, Home & Garden Moderators, Regional Midwest Moderators, Regional West Moderators Posts: 16,722 Mod ✭✭✭✭yop


    craichoe wrote: »
    109.9 Cent / Litre at Rotterdam this morning for Diesel, Petrol was 122.9
    What part of Cork is that in?? ;)


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    #14
    Anan1
    Registered Users Posts: 22,818 ✭✭✭✭Anan1


    MYOB wrote: »
    Pre-tax wise its entirely possible we've higher prices; like the way pre-tax we've the cheapest cars in Europe. Who on earth pays the pre-tax price?
    We all do. And then we pay the tax on top of that. Higher pre-tax prices are a legitimate cause for concern.


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    #15
    darc
    Closed Accounts Posts: 677 ✭✭✭darc


    Here's a breakdown of petrol price as per todays price on world market

    2nd Dec - Price for refined gasoline (petrol) = $1.12 per US Gallon
    equates to 23c euro per litre (3.8litres per US gallon. Exchange rate 1.26)

    So base price is 23c per litre.

    If Ireland was 20% more than European sellers, then that equates to 5c + vat higher. Prices dropped by approx. 6 c per litre between Nov 20th & Dec 1st. So by this reckoning, prices today should be about the same.


    Here's the full calulation of the retail price for petrol as of todays world market price

    Base price 23c
    Duty 50c
    Retailer + distributor mark up 12c

    total = 85c

    vat @ 21.5% = 18.28c

    Retail price 103.28


    Retailers selling at 96 - 97 c are selling near cost in order to get you to buy sandwich etc.


    I simply cannot see any rip off here by retailers. Then again why should facts get in the way of fine gael mischief??


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