Sinn Féin TD for Dublin South West Seán Crowe has said that Fianna Fáil and Fine Gael cannot continue to stand by while families are hit with massive increases in the cost of home heating oil.

His comments follow new data from the European Commission showing that Ireland has experienced the largest increase in home-heating oil prices anywhere in the EU, with a 27.3% rise in a single week – eight times the EU average.

Teachta Crowe said:

“Families are already under enormous pressure from the cost-of-living crisis. Now, they are being hit with a staggering surge in heating oil prices that is far beyond anything seen across the rest of Europe.

“In just one week, the price of home heating oil here jumped by more than 27%, compared with an EU average increase of just over 3%. For many households, this means the cost of filling a tank has soared to nearly €1,800.

“For the 700,000 households that rely on heating oil, these increases are simply unaffordable.

“Sinn Féin has introduced legislation – the Mineral Oil Tax (Emergency Cost of Living Reduction) Bill – to cut excise duties on petrol and diesel and bring real relief to households and workers.

“Fianna Fáil and Fine Gael also need to suspend planned carbon tax increases and cut VAT on home-heating oil in line with the lower 9% rate applied to electricity and gas.

“There must also be a full investigation into price gouging in the fuel market. If companies are exploiting an international crisis to boost profits while families struggle to heat their homes, that cannot be tolerated.

“The public cannot afford for Fianna Fáil, Fine Gael and their Independent allies to remain spectators while households are hammered.

“Fianna Fáil and Fine Gael must act now to bring prices down and protect families.”