Carbon Tax Increase Set to Hit Heating Oil Customers

heating oil price

In March of 2022, the Irish Government cut excise duties on petrol, diesel and marked gas oil in response to surging energy prices, owing to a combination of global supply chain issues and the breakout of the war in Ukraine. Since then, the government has initiated a sequence of staggered restorations to excise duties on fuels.  

Just over 18 months later in October 2023, Finance Minister Michael McGrath confirmed as part of his plan for Budget 2024, that carbon tax would be increasing from €48.50 to €56 per tonne from October for auto petrol and diesel, with home heating fuels (among others) to follow suit once the cold season is finished on May 1st.

Minister McGrath stated that the income generated from the increased carbon tax would be used in part to fund the national retrofitting programme, and support farmers in the green transition.

Fuels for Ireland CEO, Kevin McPartlan shared the views of many within the industry that the government’s decision to reinstate tax increases threatens the viability of local forecourts and places a significant strain on Irish consumers at a time of existing inflation concerns. 

"With further increases slated over the next twelve months, the prospect of a two-tier fuel economy looms large, exacerbating existing cost-of-living challenges for citizens"

Heating oil customers are due to be affected with the upcoming increase on all other fuels on May 1st which will include kerosene and gas oil. With over 700,000 Irish homes using heating oil as their primary heat source according to the CSO, this is set to impact a large portion of the Irish population.

With this in mind, McPartlan and the Fuels for Ireland group have called on the Minister for Finance to postpone the next excise duty restoration which is due to come into affect from August, in an attempt to protect consumers from further energy inflation.

It is yet to be seen whether or not the recent appointment of Simon Harris as Taoiseach and other changes in Leinster House will affect the government’s approach to these measures. In the meantime, many householders in Ireland will be keeping a keen eye on these changes over the coming months. 

At Certa, we will continue to monitor prices closely and endeavor to ensure we offer the most competitive rates on home heating oil to our customers nationwide. In addition, customers looking to beat the increase on carbon tax and save up to an additional €15 on a fill of 1,000 litres can do so here

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