Uploaded August 2026 | Updated September 2026, 2 weeks ago

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The Government is expected to rake in €1.67bn in VAT on fuel this year, amid rising energy prices caused by the war in Iran.

VAT charged on electricity, gas, petrol and diesel is expected to be €238m higher this year due to the worsening energy crisis.

The price of crude oil climbed on Monday as Iran said the critical Strait of Hormuz waterway would not reopen without significant concessions from the US, stoking market anxiety.

For more, visit the Irish Independent.

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