Further oil price increases and budget
O’Leary asks whether further oil price increases later in the year could require revised budget figures. Colley says such increases have been considered as far as possible, but future prices remain uncertain.
Does the Minister's answer to the question take into account the very probable further increases in oil prices? Does he accept that there will be additional increases in oil prices during the latter months of this year? In that event will there have to be a revision of budget figures?
Comment on this
The reply takes further increases into account in so far as that is possible. I am sure the Deputy will appreciate that nobody can say at this stage what the price of oil is likely to be next December, for instance. In so far as it can be taken into account this has been done. The whole area is, as I am sure the Deputy appreciates, one of considerable uncertainty for consumer and producer countries.