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Increase in Motor Fuel. How much.

  • 29-06-2020 6:30pm
    #1
    Registered Users, Registered Users 2 Posts: 8,401 ✭✭✭


    With Carbon taxes on the way how much do you think will the increase be per litre?

    How much extra per litre? 14 votes

    Five cent
    64% 9 votes
    Ten cent
    7% 1 vote
    Fifteen cent
    7% 1 vote
    Twenty cent or more
    21% 3 votes


Comments

  • Registered Users, Registered Users 2 Posts: 8,401 ✭✭✭saabsaab


    I would guess the higher end myself especially as fuel at the pump prices dropped in the last few months.


  • Registered Users, Registered Users 2 Posts: 14,137 ✭✭✭✭Geuze


    saabsaab wrote: »
    With Carbon taxes on the way how much do you think will the increase be per litre?

    On the way?

    It was introduced in 2010.

    https://www.citizensinformation.ie/en/money_and_tax/tax/motor_carbon_other_taxes/carbon_tax.html

    Introduction
    In 2010 a carbon tax was introduced in Ireland. The carbon tax applies to kerosene, marked gas oil, liquid petroleum gas, fuel oil, natural gas and solid fuels.

    The rate of carbon tax from 1 May 2013 to 1 May 2014 was based on a charge of €10 per tonne of CO2 emitted by the fuel concerned.

    The rate increased to €20 per tonne with effect from 1 May 2014.


  • Registered Users, Registered Users 2 Posts: 8,401 ✭✭✭saabsaab


    Geuze wrote: »
    On the way?

    It was introduced several years ago.


    I should have said 'higher' carbon tax!


  • Registered Users, Registered Users 2 Posts: 14,137 ✭✭✭✭Geuze


    Surely we can calculate the answer? Let us try.

    The carbon tax was 20 euro per tonne until this year.

    The plan for 2020 was to increase by 10 euro to 30 pt.

    But the actual increase was to 26 euro pt, and all the extra 6 euro pt is to ringfenced for environmental purposes.

    Now, we know from the Revenue Excise Rates page:

    https://www.revenue.ie/en/companies-and-charities/excise-and-licences/excise-duty-rates/mineral-oil-tax.aspx

    that the current carbon tax is 59.85 euro per 1,000 litres of petrol.

    So it is 5.985 cent per litre of petrol.

    The excise is 54.18 cent per litre.

    Now, the plan is to increase the carbon tax, which is a good idea.

    I think the GP mentioned 80 euro pt?

    What does the Programme for Govt say? I will check.


    https://static.rasset.ie/documents/news/2020/06/programmeforgovernment-june2020-final.pdf

    Carbon Tax
    Our approach is to increase the carbon tax to 100
    euro per tonne by 2030, informed by the findings an
    ESRI study, to be published by October 2020 on how
    best to prevent fuel poverty. This increase is to be
    achieved by an annual increase of €7.50 per annum
    to 2029 and €6.50 in 2030.


  • Registered Users, Registered Users 2 Posts: 14,137 ✭✭✭✭Geuze


    Ok, so eventually the carbon tax should be 100 pt, from 26 pt now.

    Let us continue our sums.

    26 pt now = 5.985 cent per litre of petrol

    100 pt future = 23 cent per litre

    So the tax per litre of petrol will rise by 17 cent.


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  • Registered Users, Registered Users 2 Posts: 5,235 ✭✭✭endainoz


    Thanks for that, although I just got a flashback of a maths class from secondary school there.


  • Registered Users, Registered Users 2 Posts: 8,401 ✭✭✭saabsaab


    Geuze wrote: »
    Ok, so eventually the carbon tax should be 100 pt, from 26 pt now.

    Let us continue our sums.

    26 pt now = 5.985 cent per litre of petrol

    100 pt future = 23 cent per litre

    So the tax per litre of petrol will rise by 17 cent.


    Interesting. Hardly be noticed due to the drop in price.


  • Registered Users, Registered Users 2 Posts: 9,520 ✭✭✭893bet


    saabsaab wrote: »
    Interesting. Hardly be noticed due to the drop in price.

    Well it’s not going to just bang on all at once but get used to 2cent a budget.

    And the drop on fuel is not going to stay a drop.


  • Registered Users, Registered Users 2 Posts: 18,775 ✭✭✭✭_Brian


    Was reading an article there and there is no vat or carbon tax on aviation fuel. No carbon tax on fuel for shipping either, not sure about vat

    This is the sort of inequality that the greens need to hammer on now that they are in government.

    Why should Michael O Leary and co add to their millions while the rest of us eeking our a living be forced to pay these taxes.

    I’m for a carbon tax provided it’s applied across all sectors so everyone pays their fair share, and that the money recovered is ring fenced for appropriate projects that benifet all of society.


  • Registered Users, Registered Users 2 Posts: 9,520 ✭✭✭893bet


    Agree. Air travel is far far too cheap for the most part.


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  • Registered Users, Registered Users 2 Posts: 662 ✭✭✭PoorFarmer


    893bet wrote: »
    Agree. Air travel is far far too cheap for the most part.

    This is a huge problem really. Last December it would have been cheaper for me to fly return from Kerry to Berlin than to get a return bus trip from Kerry to Dublin


  • Registered Users, Registered Users 2 Posts: 18,775 ✭✭✭✭_Brian


    €10 or €20 on every seat and every ferry ticket.

    Would reduce frivolous travel and provide revenue to be used for public good.

    Would need 100% guaranteed ring fencing though.


  • Registered Users, Registered Users 2 Posts: 662 ✭✭✭PoorFarmer


    _Brian wrote: »
    €10 or €20 on every seat and every ferry ticket.

    Would reduce frivolous travel and provide revenue to be used for public good.

    Would need 100% guaranteed ring fencing though.

    But it would have to be implemented on a large scale Europeanwide at least worldwide preferably


  • Registered Users, Registered Users 2 Posts: 18,775 ✭✭✭✭_Brian


    PoorFarmer wrote: »
    But it would have to be implemented on a large scale Europeanwide at least worldwide preferably

    Bunch of other EU countries already lobbying to get carbon tax into aviation fuel but ireland wouldn’t put a voice behind it. Maybe with the greens in now something will happen.


  • Registered Users, Registered Users 2 Posts: 8,401 ✭✭✭saabsaab


    An extra tax on fuels would go towards to pay for the Coronavirus crisis caused in no small part by travel.


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