Irish premier Micheal Martin has said he is “reluctant” to say when a decision will be made on whether the Government intervenes on high fuel prices caused by the conflict in the Middle East.
The Irish Government has been pressed on whether it will intervene on soaring fuel costs sparked by the conflict between Iran and the US and Israel.
Irish households have reported high petrol and diesel costs, and the Dail parliament was told the price of home heating oil had effectively doubled to 800 euro per 500 litres compared to before and after Iran was bombed two weeks ago.
Mr Martin said putting a timeframe on when the Government would decide whether to intervene was difficult as the situation between the US/Israel and Iran was fluid.
He said the Government was still keeping the rise in fuel prices “under active review” as he began engagements for St Patrick’s Day in the US.
“I’m reluctant to put timeframes on it, but obviously it’s a very moving situation,” he said, speaking at a famine memorial in Philadelphia.
“We will be, as I said, keeping it under active review on a number of fronts.”
He said there were four parts to energy costs which operated under a “very complex” framework.
“There are about four component parts to energy prices. First, the actual generation costs themselves; secondly, the grid charges; thirdly, taxes and levies; and fourthly, the ETS system.
“Clearly, member states have flexibility in respect of taxes and levies, and, as I said, we’re keeping everything under active review.”
He added: “Anything we do, we want to target and make sure that we help those most in need, those furthest behind who would be most impacted.
“But there are a number of potential issues that we have to address and we are looking at it and examining and keeping everything under review.”
He said that after energy prices were impacted after Russia began its full-scale invasion of Ukraine in 2022, the Government did not “immediately” act but took its time.
“We’re not going to get to specifics, but take it when I say active review, that means active review.”
