The Irish Government has unveiled a EUR250m package of support for households and businesses affected by soaring energy costs, as Ireland will cut excise duty on fuels until the end of May 2026 to cushion the economic impact of the Middle East conflict (Irish Government statement, 24/03/2026).
The surging price of crude oil has pushed prices at some Irish service stations above EUR2/l of unleaded fuel, a level last seen in 2022, at the start of the Ukraine conflict. A reduction in excise duty of EUR15c/l on petrol, EUR20c/l on diesel and EUR3c/l on gasoil came into effect on 25 March 2026.
The measures are described as "targeted and temporary" and will be reviewed depending on market developments, according to the Irish Prime Minister. The government will also pause the National Oil Reserves Agency (NORA) levy for two months, which will reduce the price of motoring fuel and home heating oil by an additional EUR2c/l, though this will require the passing of additional legislation. NORA is responsible for maintaining Ireland's strategic oil supplies and is funded through the levy.
Several other countries, including Spain, Portugal, and Italy, have announced measures to mitigate the effects of the Middle East war.