The Government will monitor any potential surge in oil prices due to the outbreak of violence in the Middle East, with the opposition calling for immediate action. Tánaiste Simon Harris said he was concerned about the price of oil and gas increasing due to the US war with Iran if there is a “supply shock”. A spokesperson for energy and transport minister Darragh O'Brien said the International Energy Agency (IEA) is "closely monitoring events in the Middle East and potential implications for global oil and gas markets". They need to have a contingency plan on the cost of petrol and diesel as well as home heating oil that is ready to go if the reckless war on Iran drives up oil prices. "They also need to urgently be looking at contingency measures in the event of another spike in international gas prices — this cannot again be allowed to drive up electricity prices across the board."

Source: Irish Examiner March 03, 2026 03:00 UTC