Fuel prices are due to increase, if not soar, next year as the government is considering withdrawing ‘extraordinary support’ on fuel (meaning, the suspension of certain taxes), which it claims are costing the State, in terms of lost revenue, more than €3 billion a year. The extraordinary support was introduced at the height of the inflationary crisis, in 2022, when PS Socialists opted to suspend the charging of the ‘ISP’ tax on fuel products, and reduce the carbon tax. Early reports today suggested increases could reach 20 cents per litre, but these have since been removed from news bulletins, as government sources insist nothing has been decided, and ‘all options are on the table’.
