Petrol price rise last thing local economy needs

1 02 2013

Petrol pumps
Ballycastle SDLP Councillor Dónal Cunningham has reiterated his call for a fuel duty regulator in the North; after speculation mounted that the price of petrol could be set to increase by up to 4p a litre over the next few days.
“The Petrol Retailers’ Association have said that a sharp increase in wholesale fuel prices since December – which they blamed on ‘speculation’ by wholesale traders – was set to further rise over the next few days, which would be passed on to consumers.”
“Businesses and families in Ballycastle and Moyle are wholly dependant on the price of fuel. With the economy teetering on the brink of a triple-dip recession, we simply cannot afford to be putting an extra financial burden on businesses and consumers.”
“A fuel duty regulator – which sees fuel duty cut as prices (and therefore VAT receipts) rise – is the most effective way of stabilising prices at the pumps in a highly volatile market. However, successive Governments have refused to implement the proposals.”
“Introducing a fuel duty regulator is a simple, effective way to ensure prices remain stable and give confidence to those whose livelihoods depend on this”

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