Proposed excise cuts on petrol and diesel ‘significant reduction’, says Tanaiste

Simon Harris has said proposed cuts to excise duty on petrol and diesel are “a very significant reduction” that will “make a real difference”.

On Monday night, Government leaders agreed a set of measures to help mitigate the impact of rising fuel prices sparked by the conflict between Iran and the US and Israel.

Those measures will be brought to Cabinet on Tuesday for approval and include a cut to excise duty on diesel by 20 cent and petrol by 15 cent from midnight on Wednesday until the end of May.

A diesel rebate scheme for hauliers and bus operators is also expected, which will be backdated.

The Fuel Allowance, a payment of 38 euro a week to help with heating costs from late September until April, is also to be extended as part of a package of targeted measures to be announced on Tuesday.

Speaking to reporters ahead of Cabinet the Tanaiste said the cuts to excise duty will “reduce the cost of fuel if we didn’t do it”.

He added: “This is real money, it’s a real reduction, it’s a very significant reduction.”

Mr Harris did not rule out measures to reduce fuel consumption.

Asked if the leaders had discussed measures such as encouraging people to work from home, Mr Harris said: “I think the immediate priority of Government was the fiscal measures that we can take to assist people.

“We will, I think in the time ahead, have to continue to look at what we can do around supply and demand issues, should the conflict continue.”