A proposal headed to the Dail tomorrow could see drivers save money amid the rising cost of fuel in Ireland.
There has been an outcry in recent weeks as the cost of petrol and diesel is steadily rising with some stations exceeding €2 per litre.
The Department of Finance will be looking at cutting excise duty by between 15 and 20 cent per litre of diesel and petrol.
Although it seems like a small decrease, savings over time will add up. Most average cars can carry between 45 and 65 litres, meaning drivers could save between €9 and €13 per full tank.
This will come as a relief to many, as it was confirmed earlier this week that for every 10c rise, drivers would be set back an extra €120 per annum.
A final decision will be made by Cabinet tomorrow, with all changes taking effect from midnight.
Earlier today, The Freight Transport Association Ireland released a statement saying: "With fuel accounting for more than 41% of the cost of running articulated lorry fleets - and the price of a barrel of oil now breaching $120 - the government must take urgent action to protect Ireland's supply chain.”
Aidan Flynn, CEO of FTAI continued: "FTAI is urging the Government to review its current diesel rebate programme to make it more accessible and efficient so that the inflationary pressures on the industry charged with delivering everything Ireland needs can be alleviated."
Sinn Féin leader Mary Lou McDonald earlier todaysaid that the price of petrol at pumps nationwide has gone up by 70 cent per litre since January 2021.
As well as this, the price of home heating oil has doubled in the same period of time, placing intense pressure on Irish pockets.
"These fuel hikes are not sustainable for any individual, family or indeed any small business," she said.
