Many discounted rates being offered by electricity and gas providers to switching customers have been cut since the start of the war on Iran with more deals set to disappear in the weeks ahead. Minister for Finance Simon Harris is planning to cut excise duty on diesel by 20 cent and on petrol by 15 cent from midnight on Wednesday until the end of May. He said energy suppliers held off on making official price changes more than twice a year, but when the market was volatile “they tend to tweak their introductory offers first before making any wider price changes. That means that larger stations that receive frequent deliveries may reflect price changes within hours while smaller or lower-volume stations, which receive deliveries less frequently, may take several days before the reduced costs are passed through. But based on normal sales at today’s prices, the Government would collect an additional €26 million a week in VAT.

Source: The Irish Times March 25, 2026 02:22 UTC