Micheál Martin has hinted the Government could subsidise fertiliser to support for farmers if the war in Iran continues. 

In response to rising fuel costs, the Government announced a cut in excise duty on fuel and diesel, as well as an increase in the fuel allowance. 

However, while the cut in excise duty is due to expire at the end of May, An Taoiseach said further measures could be considered if the crisis continues. 

“No Government can compensate for a crisis of this kind in terms of every sector or every person's livelihood,” he told Newstalk Breakfast. 

“So, we have to try and target it at those who need it the most and also try and ease the pressure of people generally at the fuel pump.” 

The closure of the Strait of Hormuz has severely curtailed fertiliser supplies, with deliveries from Iran, Qatar and Saudi Arabia all held up by the disruption.

The chaos in supply chains has led to a signifcant increase in costs for farmers and Mr Martin said the Government is keen to help those sectors of the economy that are struggling.  

“Hauliers are key to trade, hauliers are key to getting food on our shelves and so on like that,” he said. 

“And so that's why we took specific measures to help hauliers. 

“We'll have to look at the whole area of food production as well, in terms of the fertiliser issue and costs there - just like we did in COVID.” 

Haulier Ger Hyland at his family-run business Hyland Transport. Picture by: Alamy.com.

Mr Martin added that Ireland is not looking at fuel rationing “at this stage”, with enough supplies for a further three months.  

“Everything is kept under review because it's one shock after the other,” he said, 

“But we have the National Oil Reserves Agency reserves - it's about 90 days supply there. 

“So, we're monitoring all of that and we're having regular engagements with people in the field.” 

A driver fills up with petrol. Picture by: PA Wire/PA Images.

Mr Martin added that he was alive to complaints that many retailers had failed to pass on the excise cut to their customers. 

While noting that many petrol stations have to sell existing stock before they can pass on the cut, he said the Government had asked the Consumer and Competition Authority to “maintain a weather vane eye on all of that”. 

“But we can never be certain in a volatile market like this,” he warned. 

“I think when people see the contrast between different stations or different prices can vary, that tells its own tale.”

Main image: Micheál Martin and bags of fertiliser. Pictures by: Rialtas na hÉireann and Alamy.com.