Irish Government warns against fuel price gouging amid current Middle East tensions.
Taoiseach Mr Micheál Martin has said there is “no excuse for prices going up at the pumps yesterday, or indeed anywhere”, warning fuel and home-heating suppliers against taking unfair advantage of consumers in response to escalating conflict in the Middle East.
Speaking ahead of a Cabinet meeting, Mr Martin said Ireland currently has adequate supplies and noted that much of the State’s oil is sourced from the North Sea, including Norway. He acknowledged the situation could have implications over time if it does not stabilise, but said immediate price rises are not justified.
The Taoiseach said he has raised the issue with Minister for Energy Mr Darragh O’Brien and has engaged with the Competition and Consumer Protection Commission (CCPC). The Government has asked the CCPC to examine the sector for any unfair pricing practices. He also pointed to ongoing work on energy affordability and wider EU-level discussions on energy pricing structures.
Enterprise Minister Mr Peter Burke said energy price rises are a concern for the economy, noting prices increased on Monday, while emphasising the country has continued to see solid growth despite geopolitical instability.
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