Government to monitor oil prices amid war in Middle East, Tánaiste says

Sinn Féin said the Government 'need to have a contingency plan on the cost of petrol and diesel as well as home heating oil'

Most tanker owners, oil majors, and trading houses have suspended crude oil, fuel, and liquefied natural gas shipments via the Strait of Hormuz. File picture: Tasnim News Agency via AP)

The Government will monitor any potential surge in oil prices due to the outbreak of violence in the Middle East, with the opposition calling for immediate action.

Tánaiste Simon Harris said he was concerned about the price of oil and gas increasing due to the US war with Iran if there is a “supply shock”.