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Driving Up Prices Circle K Ireland denies increasing fuel cost following government cut to excise duty

Social media users have a reported a hike in fuel prices despite a cut in excise duty

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Circle K Ireland has denied that they increased the price of diesel and petrol after the Dail voted to cut excise duty on fuel.

On Wednesday, the government voted in favour of cutting 15c in excise for diesel, 20c for petrol and 2c for green petrol.

The changes, which took effect at midnight on Thursday, will be in place until the end of August.

On Wednesday, the price of diesel and petrol at Circle K Ireland stations was reported to have risen, with many people taking to social media to post pictures of increased prices on forecourts.

Some social media users accused the company of price gouging in response to the cuts made by the Government.

A spokesperson for Circle K Ireland said in a statement: "We categorically refute claims that price changes across petrol and diesel were implemented as a result of today's Government announcement regarding the reduction in excise duty.”

“Our pricing is set in line with local and international market movements and wholesale market costs.”

"This was the case today and the same process is adhered to anytime there are price changes."

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"We are continuously focused on delivering the very best value for our customers, however, the current level of volatility within global markets driven by intense demand is posing a major challenge for everyone in the sector," they added.

Circle K Ireland said that if it sees a reduction in the cost of refined petrol and diesel products globally they would pass those savings onto their customers.

The Canadian chain welcomed the announcement from the Government regarding the reduction in excise.

"Wholesale market costs continue to fluctuate day on day and it is likely that despite certain amounts of Government support, we will continue to see pressure on prices in the coming weeks."

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