The Taoiseach has said a decision will be taken in the coming week on excise cuts on petrol and diesel, with the Coalition poised to sign off on a gradual reversal of the reductions.
It is understood that the Government is working on a timeline that would see the excise cuts gradually phased out, reports RTE.
This would possibly happen over two or three dates across several months, with Micheál Martin reaffirming that there will not be any abrupt “cliff edge” termination of the support.
“Prices are coming down, but there won’t be any cliff edge, and we will be sensible about this because there has been a lot of volatility and uncertainty around the peace settlement, the stop start nature of it, but it looks to be a more positive trajectory now in terms of the Strait of Hormuz hopefully opening up and in terms of a more settled period ahead in respect to the prices around fossil fuels,” Mr Martin said in Mayo, reports RTE.
Although last April’s fuel protests caused considerable upheaval, there is a view within Government that people can now see that fuel prices are falling at the pumps.
Cuts in excise of 32 cent on diesel and 27 cent on petrol are due to expire at the end of July, with a decision required before the Dáil rises for its summer recess on 16 July, reports RTE.
Government party leaders are due to discuss what should happen next at a meeting on Monday evening before potentially bringing a proposal to Cabinet on Tuesday.
However, the Opposition is insistent that the supports should remain, reports RTE.
Sinn Féin Finance Spokesperson Pearse Doherty said he felt it was risky to unwind the support while the Dáil is on its summer recess.
“There can be no increase in the price of petrol and diesel while the Dáil is in recess and Government ministers are away for their summer break,” he said, reports RTE.
“We saw the impact rising fuel prices had on workers and families earlier this year. The Government was far too slow to respond then, and there cannot be a repeat of that delay,” he added.
“The Government must act now to protect people at the pumps by extending these cuts until a review on Budget Day and ensuring that no additional pressure is placed on households already struggling with the cost of living,” the Donegal TD said, reports RTE.
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