Alan Healy: Who really benefits from a cut in fuel excise duty?

The real lesson for Ireland from the conflict in Iran is not about excise cuts but that we have again sleepwalked into a position of extreme energy exposure

We are left with a painful reminder of our dependence on energy imports when conflicts like this occur. Picture: Eamonn Farrell

With little oil reserves, no major domestic production and no ability to influence global crude oil prices, Ireland has been left badly exposed, once again, to an external conflict.

Motorists facing €2.30 per litre of diesel at the pumps this week earned a reprieve in recent days as the Government's move to cut excise duty saw prices drop back by 20c.