Costs of global crisis being monitored
Consumers are being protected from unfair price hikes by fuel retailers by the offices of the State, the Minister for Transport and Minister for Climate, Energy and the Environment, Darragh O'Brien said on a visit to Westmeath today.
The crude oil price has experienced a surge of more than 55% over the approximately 80 days since the start of the US-Iran conflict on February 28, 2026, rising from roughly $72 per barrel to a range of between $113 and $114 per barrel.
The government has implemented temporary measures to reduce fuel prices, running from April 14 to July 31, 2026, including excise duty cuts of 27 cent/litre on petrol and 32 cent/litre on auto diesel. Key supports also include reducing the NORA levy to a nominal rate, capping diesel costs for hauliers, and extending the Fuel Allowance season
The prospect of fuel passing the €2 mark for a second time, even after extensive government measures to contain the price hikes, shifts focus back on retailers who dramatically raised the cost at the start of the conflict.
Motorists now face more increases even as the Road Transporters Supports Scheme, which is worth €120m (£104m) and targets hauliers and bus and coach operators, comes into play.
That scheme will be backdated to March and will apply from when average national diesel prices exceeded €1.90 per litre, the benchmarked point when fuel costs become unsustainable for commercial transport operators.
Speaking to the Westmeath Examiner the Minister O'Brien said the government is observing the rate of fuel price increases: “I deal directly with the Consumer Protection Commission. I've asked them twice to make sure that we're monitoring the price of fuel at the pumps,” he said.
The CCPC is a statutory body enforcing consumer protection and competition law. Minister O'Brien said he is happy with their assessment: “They carried out an independent report just very recently that was published that found that the price decreases that government brought about through excise reductions, which were significant, were passed on.”
The Minister for Transport and Minister for Climate, Energy and the Environment says the measures taken thus far have been exemplary: “If you look at what has been done over the fuel package, it's €755 million. It's focusing on our haulage sector in particular, focusing on food production, which is really important, but also focusing on car users.
“We've seen a €0.32 per litre reduction in diesel, €0.27 in petrol as well, which is the most significant decrease that any government made across Europe,” he said.
“This is a global crisis,” the minister said, “We know people understand this. We're seeing changes in oil prices, not just on a daily basis, on an hourly basis. Obviously what we want to see is that situation de-escalating, but government will continue to do what we can to soften the blow of the increase that people see.”
The minister dismissed suggestions that the retailers are taking advantage of a crisis: “I asked the CCPC to carry out an independent assessment and investigation of prices of fuel at the pump.
“What they published recently, I think just about two weeks ago, was an independent report that found that the price decreases that were brought forward were and are being passed on. Where there might be a rogue operator, people need to bring that to our attention, and that can be dealt with, and I deal directly with Fuels Ireland, who are the representative group.”
Minister O'Brien said the issue will continue to be monitored: “Unfortunately, the situation remains really volatile, so we have got to retain the ability to respond, as I said, to help with the cost increases because this is an unprecedented situation. People are under pressure, and we fully get that, and we'll continue to monitor it on a daily basis.”