Excise and duty on petrol and diesel must increase in two weeks’ time in order for Ireland to have a “broad, stable revenue base”, Eamon Ryan has said.
The Government cut excise duty in March 2022 as fuel prices soared due to the war in Ukraine.
In February, it announced that the cuts would be restored on a phased basis between June and September.
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The first increase on June 1 will add 6c and 5c to a litre of petrol or diesel respectively.
When asked if he believed that it was appropriate for fuel prices to rise in the middle of a cost of living crisis, Mr Ryan said that the cuts had to be phased out.
“We set out clearly that's what we would do,” the Green Party leader said.
“That will give us the capability if we were In another further crisis, the flexibility to use similar measures.
“We were very successful in this country in COVID in that we introduced a whole load of measures and then we unwound them.
“Similarly, coming out of the cost of living issue, the war in Ukraine and the high spike in energy prices, we committed to unwinding. So that gives you capability.
“You do need exchequer revenue to pay social welfare, to pay for education, to pay for health. You need a broad, stable revenue base.”
Minister Ryan said that the Government will examine “what protection we put in place to shelter people who really are being hit badly” by rising prices.
AA Ireland spokesman Paddy Comyn said today that while fuel prices have fallen slightly, they are set to increase from June 1.
The average petrol price across the state is €1.57, the lowest since September 2021. Diesel has dropped to an average of €1.47 per litre.
“If fuel prices remain the same, these [excise] increases will see petrol costs increase by 3.8% and diesel by 3.4% on June 1,” Mr Comyn said.
“We have known about it for some time, but it will come as another unwelcome increase for motorists after enjoying a period of reasonably stable fuel prices.”
Elsewhere, Minister Ryan defended Chinese fast-fashion company SHEIN, setting up its European headquarters in Dublin just weeks after he said that future generations would be horrified by the prevalence of fast fashion.
He said he was not fully aware of the company, This is despite regular criticism of the company’s environmental impact. Their workers’ conditions have also been slated.
The IDA announced last week that SHEIN had launched its EMA headquarters in Dublin. Minister for Enterprise, Simon Coveney said that he “warmly welcomed” the announcement that could create 30 new jobs in 2023.
The company has also opened several pop-up shops around Ireland.
Minister Ryan said that a company having a headquarters or shop in Ireland will not “impact our ability or our intention of regulating and introducing the waste management measures”.
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