Government Confirms Planned Fuel Excise Increases Will Not Go Ahead in September and October

The Government has confirmed that planned increases to fuel excise duty and the National Oil Reserves Agency Levy (NORA), due to take effect on 1 September and 1 October, will not go ahead, a decision that will come as welcome news to Cork motorists and households already managing cost-of-living pressures.

Since the conflict in the Middle East began, the Government has said it would monitor the situation closely and reserve the right to adjust its response as required, with nothing ruled out.

It says this step-by-step, phase-by-phase approach has ensured one of the largest fiscal interventions of any EU member state this year in response to the impacts of the crisis, helping to reduce the cost burden at the petrol pump, support those most at risk of energy poverty, and assist key sectors critical to keeping the economy moving. These interventions, the Government says, have kept inflation under control and provided relief at the pumps.

In June, the Government announced an extension of the temporary reductions to fuel excise and the NORA levy. To avoid any cliff edge removal of supports, it set out a pathway to gradually restore rates to pre-reduction levels, starting from 1 September.

However, the Government says that in the period since, there has been a change in the global situation and, as a consequence, in the cost of petrol and diesel for consumers.

The Taoiseach, Tánaiste and Minister of State Seán Canney have kept in close contact in recent days and weeks, and this morning agreed that the planned increases on 1 September and 1 October will not now go ahead.

For Cork motorists and households managing costs across the county, the move offers further relief at the pumps as the increases that had been due next month will not now proceed.

The Government will agree the next steps next week. It says the greatest economic intervention it can see remains de-escalation in the Middle East, and that this is still the case. It will continue to be agile and rule nothing out.

Work is also ongoing in relation to the Budget on 6 October. The Government has been clear there will be decisive interventions in the Budget, framed around assisting people with the cost of living, including rewarding work, reducing costs, and protecting the economy.