Irish petrol prices are rising 12 per cent faster than in the rest of Europe, it was claimed today.
Fine Gael deputy leader Richard Bruton said motorists were being "ripped off" by retailers who were taking increased profit margins and the government, which was taking more tax revenue.
"Rising international oil prices have been used by Irish suppliers as an opportunity for increasing profit margins. But the minister for Enterprise and Employment Micheal Martin has not lifted a finger to ensure that Irish consumers are being treated fairly in this period of oil markers turmoil," he said.
Mr Bruton said the EU Bulletin of oil prices showed that the prices for the three main oil products - petrol, diesel and home heating oil - have increased faster in Ireland than in the rest of Europe, on average rising by 12 per cent.
He said of the 15.5 cent increase in the price of petrol since 2001, only 3.5 cent was due to rising oil prices, with 9 cent coming from higher tax and 3 cent from higher margin.
He added that only 10 cent of the 24 cent increase in the price of also diesel was due to oil price rises, with eight cent coming from higher taxes and six cent from higher margins. The rising oil prices has been blamed on the demand for oil in the Chinese economy and the uncertainty over oil supplies in Iraq.
Mr Bruton said diesel had swung from being 8 per cent cheaper than petrol as a motor fuel to becoming 18 per cent dearer.
"Even allowing for the traditional lower tax take on diesel, the price at the pump of the two fuels are now almost equal," he said. He said this was putting severe pressure on the haulage industry, which depended on cheaper diesel to maintain its competitiveness.
Mr Bruton called for an investigation of profit margins in the oil distribution business, a cut in motor tax on haulage sector vehicles and a diversion of the extra tax earned from rising fuel prices into a better fuel use fund.
"It could fund installation and fuel efficient system for the elderly, promote free off peak travel on public transport and develop park and ride integrated ticketing," he said. Mr Bruton called on Mr Martin to address the rising fuel prices.
"We have a minister who sounds like Mighty Mouse when a microphone is open in front of his mouth but is like a church mouse when it comes to challenging the grab by the Minister for Finance and by the oil companies for a bigger slice from the consumer.
Now is an opportunity for him to show that something has changed," he said.