Excise Duty Return Delayed

The Government has agreed to phase out cuts to excise duty on petrol and diesel over four stages, from November through to the end of February. The decision comes amid continued volatility in global fuel prices, with concerns about the impact on households, farmers and businesses. Planned increases for September and October were scrapped recently, amid concerns over rising fuel prices. The September increase alone would have added 9 cent to a litre of petrol and 10 cent to diesel. The Transport Minister says extending the current cuts to fuel excise duty will cost the State an additional 430 million euro. Minister Darragh O’Brien says the additional support being provided is significant. Daragh Dolan was joined by Stephen Walsh, Clare IFA Chair and Feakle farmer, and Michael Barry of Dan McInerney’s & Sons, to get their reaction to the changes and what they could mean for fuel prices in the months ahead. Photo (c) amanalang from Getty Images via Canva