Taoiseach says fuel supplies secure until end of April as hauliers declare a 'national emergency'

""If this continues for any length of time, I think globally, it will have very significant impacts on the world economy, livelihoods, and it'll have a range of secondary effects.""

""The immediate one, obviously, is the supply shock that will occur, and I'm talking globally now. But of course, that then leads to inflation.""

""We don't believe fuel capping would work, and it's an endless sort of commitment. We think what we've done so far makes sense.""

""I think we also are cautious, because we don't know quite know what's around the corner here and in terms of how this long this war is going to continue.""

Supplies are expected to last until the end of April. Prolonged conflict in the Middle East could lead to significant global economic impacts, including supply shocks and inflation. Key sectors like aviation are already threatened due to rising jet fuel costs. The government cannot fully compensate all sectors during the energy crisis, and support should be targeted. Fuel capping is deemed ineffective, and a cautious approach is necessary as the situation evolves.

Read at Irish Independent