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17/09/2008
Consumer Association Calls For Petrol Price Investigation
A consumer group has called for an investigation into why the price of petrol at the pumps has failed to come down despite the recent significant falls in the price of oil.
The Consumer Association on Tuesday called on the Competition Authority should look into the matter, saying the price of petrol at the pump is now "now more than continuing price taking."
Despite the price of crude oil falling from a $147 per barrel peak earlier in the year to $92, the average price of petrol has steadily grown to 125.9c per litre.
According to the Irish Petrol Retailers Association, the price rises are due to exchange rates fluctuations, but this was rejected by the spokesman for the Consumer Association, Dermott Jewell, who said: "The increases were put down to the price of a barrel, and then it was put forward that it was a currency issue. The reasons given are poor. We should be seeing reduced charges at the pumps."
Oil has fallen more than $10 in the past two days alongside a plunge in global financial markets.
(DW)
The Consumer Association on Tuesday called on the Competition Authority should look into the matter, saying the price of petrol at the pump is now "now more than continuing price taking."
Despite the price of crude oil falling from a $147 per barrel peak earlier in the year to $92, the average price of petrol has steadily grown to 125.9c per litre.
According to the Irish Petrol Retailers Association, the price rises are due to exchange rates fluctuations, but this was rejected by the spokesman for the Consumer Association, Dermott Jewell, who said: "The increases were put down to the price of a barrel, and then it was put forward that it was a currency issue. The reasons given are poor. We should be seeing reduced charges at the pumps."
Oil has fallen more than $10 in the past two days alongside a plunge in global financial markets.
(DW)
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Consumer Agency Launches Fuel Price Investigation
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Consumer Agency Launches Fuel Price Investigation
The National Consumer Agency has launched an investigation into the price of fuel, and will issue a report to the Tanaiste, according to an announcement this morning. The report is examining wholesale costs of fuel and oil and retail prices charged on the forecourts, which the agency says it has been tracking for sometime.
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