PRA urges Government to “follow Irish example and cut fuel duty”

Ahead of the Budget the Petrol Retailers Association (PRA) has written to the Chancellor of the Exchequer urging the Government to cut fuel duty to reduce the burden of soaring energy costs and fuel prices on consumers and businesses.

In its letter, the PRA explains that rapid increase in the wholesale price of petrol and diesel have had to be passed on to the motorist. The association explains; “Our members have done what they can to alleviate the increases, but the speed at which prices have moved has been unprecedented and has left many forecourt operators with negative fuel margins”.

Record high pump prices are having a significant impact on consumers and businesses, especially those with no alternatives to driving. To alleviate this, the PRA has urged the Government to use the upcoming Spring Budget and cut fuel duty

Additionally, the letter outlines how the current crisis comes at a time when fuel operators are working hard to also adapt to the Government’s Net Zero Strategy, exploring costly infrastructure investments.

PRA commented: “Fuel prices have soared and with rising energy costs, it is crucial that the consumer and business does not bear the brunt of these skyrocketing costs any further. It falls upon the Government to take steps to alleviate the pressure on households who are already struggling to pay the bills.

“The PRA urges the Government to follow the example of Ireland in cutting fuel duty to reduce the burden of soaring fuel costs. The Government is well positioned to implement this measure as the high cost of fuel has seen VAT revenue increase, which would help mitigate the cost of cutting fuel duty.

“We look forward to engaging further with the Government on these issues”.