'Absolutely reckless' to reimpose excise cuts - fuel body

The forthcoming Irish budget is expected to focus on the cost of living, according to Taoiseach Micheál Martin. This is due to the Coalition's renewed push to review plans to unwind excise cuts on fuel, which were implemented in March amid global uncertainty. Fuel importers claim that prices are now higher than when the reductions were introduced.

Martin also mentioned the importance of reducing the burden of income tax on workers, as well as addressing childcare costs, the disability sector, and housing, which is the biggest social issue facing the country. The representative body for fuel importers, distributors, and retailers in Ireland has warned that it would be "absolutely reckless" to reimpose excise duty cuts later this year.

The warning comes after the government said the reductions were under review. Fuels for Ireland CEO Kevin McPartlan stated that commodity prices in August are higher than they were in March, with prices reaching €2.25 per litre, higher than when the excise cuts were introduced. He argued that a strategic review of all the costs associated with fuel prices is required, noting that the commodity is essential and should be regarded as such.