Reduction in Diesel Price Must be Passed On

IFA Farm Business Chair Bill O’Keeffe said it’s vital that any fall in wholesale diesel prices is immediately passed onto the end user.

“We are entering into one of the busiest times of the year in terms of machinery work both for farmers and agri contractors. Given how tight cashflow is on farms at the moment, it’s critical that any reductions in wholesale diesel prices are immediately passed onto the end users,” he said.

The price of a barrel of Brent crude oil has fallen by almost 10% over the past month, with markets relatively stable currently.  

“Farmers and contractors need all the help they can get at the moment. Given that diesel is such a large part of input costs, any reductions will have a positive impact. Any benefits need to be seen in reduced prices without delay.”