Hundreds of millions of euro will go to the Government at the expense of hard-pressed motorists as prices at the pumps are set to rise again.
The staggered phasing out of excise duty on petrol and diesel announced by Government last month will see the price of a tank of petrol rise by €10, as €700 million is set to land in the coffers of the State.
The Irish Independent reported that Finance Minister Michael McGrath said this is comprised of additional excise duty of €478m for a year, higher VAT on diesel of €35m, €159m extra and higher VAT on petrol of €35m.
