FUEL SECTOR REITERATES CONCERN OVER TAX HIKE IMPACT IN BORDER REGION

Ireland will be the country in Europe with the highest level of fuel taxation after the October Budget. This was the stark prediction from representative association Fuels for Ireland this week in a reiteration of the sectors concern about fuel tax increases already implemented which are likely to be added to in the forthcoming Budget. “The combined impact of recent tax hikes and forthcoming increases will push Ireland to the forefront of fuel taxation across Europe,” the FFI said in a statement. “After the excise duty increase on August 1 and the anticipated October carbon tax rise, petrol prices in Ireland will be taxed at 57.2%, elevating Ireland to third place in petrol taxation within the EU. Diesel taxation will reach 54%, positioning Ireland at the top alongside Malta for the highest tax proportion in diesel prices.”

The lobby group said that a new Fuels Europe report, based on February 2024 data from the EU Commission, revealed Ireland’s already high fuel taxation levels. “At that time, Ireland was ranked third in diesel taxation and seventh in petrol taxation across the EU. However, this report does not account for the additional…