Ireland has announced a temporary reduction in fuel taxes to counter the surge in petrol and diesel prices caused by the war in the Middle East.
Diesel and petrol taxes will be lowered by €0.20 and €0.15 per litre respectively until the end of May, Prime Minister Micheál Martin announced on Tuesday.
The tax cuts are part of a €250-million plan aimed at easing the burden of rising costs on households and businesses, Martin explained.
Since early March, petrol prices have risen by more than €0.25 per litre, while diesel prices have climbed by €0.55 per litre.
The plan also includes a tax rebate mechanism for road transport operators and an extension of the fuel allowance programme benefiting some 500,000 households.
Martin reassured the public that the government does not plan to introduce fuel rationing.
The two-month duration for the tax reductions follows recommendations made at last week’s European summit, which called for targeted and temporary measures to ease pressure on households, Martin added.
