Ireland Cuts Fuel Prices, Seeks Long-term Solutions

0:00I'm Cory with the story. That's your Europe News Today update, AI-powered and always on. The Irish government plans to cut excise duty on petrol by 15 cents and on diesel by 20 cents per liter. The reduction starts at midnight on Wednesday and runs until the end of May. Leaders agreed on this Monday night, with cabinet approval set for Tuesday. They are also rolling out a backdated diesel rebate for hauliers and bus operators. Plus, the weekly fuel allowance of 38 euros meant to help with heating from late September to April will get an extension as part of these targeted supports. Households have felt the squeeze from soaring fuel costs, driven by tensions between Iran, the United States and Israel. Home heating oil prices have doubled to around 800 euros for 500 liters in some cases, pushing people to seek quick relief. President Trump recently announced the five-day delay on strikes against Iranian energy sites after talks with Tehran. That news send brand crude oil prices down about 8 percent, settling just under $104 a barrel.

1:04The Dowis each welcome the pause, stressing the need to end the conflict and steady the markets. Irish officials recognize fuel prices remain unpredictable and are pushing for longer term plans, especially to support the vital haulage sector, through smarter, sustainable