Fuels for Ireland said that instead of making money, some suppliers were losing money on the fuel they are selling.

Reports of dramatic increases to fuel costs, such as home heating oil and motor fuel, have been sent to TDs.

Consumers have seen hikes in home heating oil and motor fuel in the wake of the escalating conflict in the Middle East.

The Taoiseach said he did not want to see ‘price gouging’ because of the escalating conflict in the Middle East.