RETAILERS CALL ON CHANCELLOR TO MATCH EIRE PETROL PRICE CUTS

Gordon Balmer, Executive Director of the Petrol Retailers Association will provide evidence to the Energy Security and Net Zero Committee this afternoon in Portcullis House.

At the meeting, Mr Balmer will refer to the measures announced by the Government in the Republic of Ireland in response to the rise in the wholesale price of petrol and diesel, as result of the ongoing crisis in the Gulf. The Irish Government yesterday announced a 20 cent cut in excise duty on diesel and a 15 cent cut on petrol until the end of May, by when it is hoped that the crisis will abate.

By contrast, in the United Kingdom, despite the severe impact of rising fuel costs on British families and businesses, no relief measures have been implemented by the Chancellor.

“I am not going to allow politicians to make scapegoats of British forecourt operators, by making inflammatory and unjustified accusations of profiteering.

“The fact is that for every litre of petrol sold by retailers, less than 5% is retained as profit, while the Government receives around 55% of the money raised from petrol sales from Fuel Duty and VAT.

“The Chancellor needs to abandon her plan for a 5p rise in fuel duty and announce immediate short term cuts, in line with Eire.”

In addition to highlighting the lack of support for British motorists from the government, the disparity in action between the Irish and UK governments could lead to a flood of drivers crossing the border into the Republic to find affordable fuel, which is likely to have an immediate adverse impact on petrol retailers in Northern Ireland.