The Government is unlikely to take any decisions around actions aimed at reducing the soaring cost of energy this week, sources have indicated.
Pressure is growing on it to take steps that would offset some of the increases in oil and gas costs seen since the Russian invasion of Ukraine began.
One suggestion being floated in Government circles is that a swing mechanism might be implemented that would see excise duty decrease as the cost of the raw material rises.
Officials are also exploring what might need to be done to bring out any changes, such as alterations to legislation.
Excise duty makes up around a third of the cost of petrol at the pumps.
But it also brings in around €2 billion to the exchequer each year.
Fuel industry sources have questioned how practical it would be to implement a swing system, in a scenario where prices are moving dramatically by the day.
EU Governments are awaiting fresh guidance from the European Commission on how they might act to reduce the burden of rising costs on consumers and business.
It will also propose how member states could coordinate their approaches in order to assist each other.
A Government source indicated this morning that no decision is likely on how the Government here might respond until after that paper is published.
However, fuel suppliers and hauliers want speedy action this week on the problem.
There is concern in the fuel sector that increasing prices are causing abnormal buying patterns, as consumers and businesses purchase more fuel than they need in order to avoid increasing prices down the line.
As a result, a growing number of home-heating oil suppliers are limiting the amount they will sell to customers to what they need rather than what they want.
We need your consent to load this rte-player contentWe use rte-player to manage extra content that can set cookies on your device and collect data about your activity. Please review their details and accept them to load the content.Manage Preferences
€200 electricity credit to appear on bills from next month
Hauliers concerned by impact of rising fuel costs
Industry body Fuels for Ireland says there continues to be an adequate supply of product for the Irish market and it says it is unaware of any concerns about future supplies.
It has written to the Government to ask that excise duties on fuel and energy supplies in order to diminish the impact on ordinary families and blunt the inflationary effects.
Earlier, the Irish Road Haulage Association held crisis talks with the Minister for Finance Paschal Donohoe over the impact of the Russian invasion of Ukraine on fuel prices here.
The lobby group described the situation as a national crisis that needs urgent attention.
President of the association Eugene Drennan said they need some sort of subvention quickly, and it should be "radical and sizeable" enough to help support them.
Speaking on RTÉ's News at One, Mr Drennan said other European countries have had "no issue" with taking radical action, citing Romania's price freeze as an example.
He said some drivers will have to park their trucks if there is no response.
"They'll have to, when your back is to the wall you've no choice," Mr Drennan said.
"It's a radical time, people may need to do whatever but they can't stay working."
On the increase in oil and gas prices, the Taoiseach said the ultimate security of supply into the future will be on renewables.
Speaking on Newstalk this morning, Micheál Martin said gas is important and will always be a back-up.
"We just have to double down on renewables while also maintaining gas generation as a significant back-up and transitional future, and that is the future over the next 30 to 40 years," he said.
Additional reporting by Dyane Connor
