Ireland may rethink fuel tax hike timeline amid high prices

The Irish government is signaling a potential shift in its strategy for restoring fuel excise duties, citing ongoing high prices as a reason to "revisit" the timetable.

The coalition had planned a four-phase reversal of excise cuts between September and December. However, current market conditions, with average diesel prices jumping 19 cents to €1.92 per liter and petrol rising 9 cents to €1.84 in the last month, are casting doubt on this schedule.

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There is a view in the Government that if prices remain elevated, the schedule will have to be revisited.

While the initial price hike on September 1, which will see petrol increase by 9 cents and diesel by 10 cents per liter, might still proceed due to the Dáil being in recess, subsequent increases could be altered. A government spokesperson confirmed that no decision has been made but emphasized close monitoring and the right to adjust the response.

Both the Irish Farmers' Association and the Irish Road Haulage Association have publicly called for the government to delay these increases, highlighting the financial strain on their sectors.

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the coalition is monitoring the situation closely and reserves the right to adjust its response as required.