Government to Review Fuel Excise Cuts in Two Weeks Amid Middle East Peace Deal
Tánaiste Simon Harris announced the government will decide in two weeks on extending fuel excise cuts, which expire end of July. Petrol and diesel cuts total 27 and 32 cents respectively. The decision follows a US-Iran peace deal, though immediate energy cost impacts are uncertain.
Tánaiste Simon Harris confirmed the government will decide within two weeks whether to extend fuel excise cuts on petrol and diesel. These emergency measures, introduced in March due to the Middle East conflict, are set to expire at the end of July.
The excise on petrol was reduced by 10 cent, totaling a 27 cent reduction (VAT inclusive), while diesel saw a 10 cent cut, bringing its total reduction to 32 cent. Marked gas oil (green diesel) was cut by 2.4 cent, for a total reduction of 7.4 cent.
Harris noted the US-Iran peace agreement is a «positive economic development» but cautioned it might not immediately impact energy costs due to infrastructure damage. He described the oil markets as volatile, making a decision on extending cuts prudent. Public Expenditure Minister Jack Chambers also stated that a tax package will be a «really important priority» in Budget 2027, with further increases to the higher income tax threshold considered. Childcare will also be a key pillar in this year’s budget.