Freight News, Logistics, Road

Irish industry must be protected from fuel cost hikes says FTAI

[ March 8, 2022   //   ]

FTA Ireland (FTAI) is calling on the Irish government to protect businesses from rising fuel prices.

Chief executive Aidan Flynn says that 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.

FTAI is urging the government to review its current diesel rebate programme to make it more accessible and efficient. Currently, under a third of qualifying haulage operators are active participants in the scheme. Commercial fleet operators that distribute their own goods -responsible for most retail and food services – do not qualify while compressed natural gas (CNG) is also excluded.” 

Aiden Flynn said: “FTAI is also urging the government to reduce excise duty, with the rate of reduction linked with the international pricing of a barrel of oil; the higher the price, the more excise reduction. This must be activated immediately if Ireland’s businesses are to remain viable and competitive.”