File photographThe price of home heating oil has continued to climb following the outbreak of conflict in the Middle East. The average cost of 500 litres was put at just under €800 on Thursday, an increase of nearly 60 per cent in less than a week. Its chief executive, Kevin McPartlan, told The Irish Times the only excess profits being made as a result of price increases are by the Exchequer. He said he would be outlining the nature of the review and asking for the rationale for price increases. He said that when the price of 1,000 litres of home-heating oil was around €1,000, the Government was taking €118 in VAT.

Source: The Irish Times March 05, 2026 23:06 UTC