Any increase in wholesale gas prices will affect electricity bills, according to Daragh Cassidy of bonkers.ie. As a result, any increase in wholesale prices usually takes several weeks, if not months, to feed through into higher household bills. He said a sustained 50 per cent increase in wholesale gas prices might translate into a 20-25 per cent increase in domestic bills, amounting to about €600 a year. The average Irish motorist drives 17,000km a year, so a 10 cent increase would add about €130 to the annual cost of motoring. Prices could continue to climb if the conflict deepens and the impact on global oil prices worsens.

Source: The Irish Times March 07, 2026 15:01 UTC