BIRMINGHAM (England), March 24 (Bernama-Anadolu) -- The Irish government on Tuesday announced temporary cuts to fuel taxes to help households and businesses cope with rising energy costs linked to the war in West Asia.
Diesel excise will drop by 20 cents (US$0.23) per litre and petrol by 15 cents (US$0.17) per litre until the end of May, Anadolu Ajansi reported.
In a televised speech, Prime Minister Micheal Martin described the measures as “targeted, temporary, affordable intervention aimed at protecting living standards and maintaining economic stability.”
The package, which also expands the diesel rebate scheme and extends fuel allowances for vulnerable households, is expected to cost around €235 million (US$272 million).
Martin stressed that the government cannot shield everyone from higher prices. “There are limits to what governments can do in response to a crisis of this kind and we want to ensure what we do is sustainable,” he said.
He acknowledged uncertainty over the war’s duration and its impact on energy markets.
“We are never going to be in a position where we will as a Government be able to compensate everyone for the damaging impacts of the war on the energy markets, but what we can do is try and ease the pressure.”
Addressing the geopolitical context, Martin highlighted broader risks from conflict in the Gulf region.
“This conflict and war needs to end as quickly as possible - that’s the most effective way to get the world economy back on some equilibrium,” he said.
The prime minister emphasised the importance of energy conservation and strategic investments, saying the crisis “demonstrates the central strategic importance of our investment in renewables and energy storage, or investment in retrofitting, or investment in interconnection, or investment in a strategic LNG reserve, or investment in the defense of our underseas infrastructure.”
All measures are temporary and under review, Martin said, noting that the government will monitor market developments closely.
-- BERNAMA-ANADOLU
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