Energy prices have risen following the US-Israeli strike on Iran and the retaliatory actions that followed. On Wednesday morning, the average cost of 500L of home heating oil stood at €761.46, up from €495 on February 27, according to oil price comparison website oilprices.ie. However, Mr Chambers also stated that this is not something that is being considered. Mr Chambers confirmed the carbon tax increase will proceed on May 1, with a €7.50 rise bringing the rate to €71 per tonne of CO2 emitted. Mr Martin said “no one should take advantage” of global uncertainty to increase “prices of energy, oil, or petrol”.

Source: Irish Examiner March 04, 2026 16:31 UTC