Section 99A of the Finance Act 1999 is amended by substituting the following for subsection (3):

"(3) Subject to a maximum repayment rate of €75.00 per 1,000 litres, the amount to be repaid per 1,000 litres of gas oil under subsection (2) is determined -

(a) where gas oil has been purchased before 1 January 2020, by the formula -

A = (P – 1,000) x 0.3,

or

(b) where gas oil has been purchased on or after 1 January 2020 -

(i) when P is less than or equal to €1,070, by the formula -

A = (P – 1,000) x 0.3,

or

(ii) when P is greater than €1,070, by the formula -

A = 21 + [(P – 1,070) x 0.6],

where -

A is the amount to be repaid per 1,000 litres, and

P is an estimate of the average price (exclusive of value-added tax) in euro per 1,000 litres of gas oil purchased by qualifying road transport operators during the repayment period, as determined in accordance with subsection (4).".