NCA begins fuel price survey
The National Consumer Agency has begun a price survey on the costs of fuel, it has been announced today.
The report, the results of which will be given to the Tánaiste by mid December at the latest, will examine wholesale costs of fuel and oil and retail prices charged on the forecourts.
"We began looking into the issue of fuel prices some weeks ago we and are currently examining wholesale prices as well as those being charged to the consumer on the forecourts," said Ann Fitzgerald, chief executive of the NCA.
"Our work to date suggests that price data, on an aggregated basis, is being supplied to Irish authorities on a monthly basis while the EU is publishing weekly tracked prices.
"This means that the data the EU is receiving from the Irish authorities is hopelessly inadequate and out of date with the result that weekly tracking of Irish prices versus those in other EU countries is impossible.
"Given the large number of Irish petrol retailers who can set their own prices for petrol and diesel, it is necessary to do weekly surveys of pump prices throughout the country to get a clear picture of prices being charged to consumers.
"The NCA is currently carrying out those surveys and will continue to track prices over the coming weeks.
"With the global price of oil fluctuating, we want to ascertain whether oil companies are quickly passing on savings on oil prices internationally and if petrol and diesel pump operators are subsequently passing those savings on to consumers."
