The OECD says carbon taxes are not reducing energy consumption, improving energy efficiency or helping to tackle climate change - because they are too low across most countries. It also points to lower tax rates for diesel compared with petrol, despite diesel being more polluting and having a greater impact on air quality. Carbon taxes are currently levied at €20 per tonne of emissions, but the OECD says the "minimum" figure should be €30. But it would result in price hikes across petrol, diesel, home-heating fuels and coal, ranging from 2pc for a litre of petrol to 6.6pc on a 40kg bag of coal. For diesel, it's 47.9c, including the 5.3c carbon tax, and we are ranked seventh.

Source: Irish Independent February 15, 2018 02:26 UTC