The fall in oil prices to under $56 a barrel over recent weeks must be passed on in full to the consumer, Fine Gael claimed today.
The party's natural resources spokesman Bernard Durkan called on the Minister for Natural Resources Noel Dempsey to ensure the benefit of lower prices was passed on in lower electricity prices.
"The most recent drop in oil prices on international markets is further confirmation that price increases in gas and electricity here over the past 3 months were totally unwarranted, unjustified and merely served to enhance oil company profits and Government revenues in imposing a heavy penalty on the manufacturing services and domestic sectors," he said.