Irish drivers should see a bit more of easing in prices at the petrol and diesel pumps as a result of Budget 2023.
The financial plan for the next 12 months was published and delivered to TDs in the Dáil on Tuesday afternoon as Minister for Finance Paschal Donohoe and Minister for Public Expenditure and Reform Michael McGrath confirmed the help that will be given to the public.
Two packages were referenced by the Ministers in Leinster House - the €6.7 billion Budget itself and then a separate €3.7 billion specifically to deal with the cost of living crisis.
Included in the latter and explained during Tuesday's speeches was a benefit for Irish motorists who have had trouble at forecourts across the island in 2022.
At peak levels, some garages were charging €2.20 per litre for fuel - that was until the Government were forced to intervene with a cut on excise duty on petrol, having previously stated they wouldn't do so.
Now, that cut on duty has been extended to February 28 2023, meaning that prices shouldn't be rising astronomically as they did in the first six months of the year.
The excise reduction translates to 21c per litre of petrol and 16c per litre of diesel
The carbon tax was introduced, raising prices by 2c per litre - but this was offset by a reduction of the National Oil Reserves Agency levy, meaning prices will not go up at the pumps.
Providers blamed the ongoing crisis in Ukraine and soaring costs of production as the main factor for the hikes, but many members of the public were outraged by what they saw as price gouging at some forecourts.
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