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US-Iran peace deal raises hopes of lower Irish fuel prices

Fuel prices, public pay and derelict sites all feature on a busy political agenda

Minister for Public Expenditure Jack Chambers and Tánaiste Simon Harris at the Printworks, Dublin Castle. Photograph: Dara Mac Dónaill
Minister for Public Expenditure Jack Chambers and Tánaiste Simon Harris at the Printworks, Dublin Castle. Photograph: Dara Mac Dónaill

It was Donald Trump’s 80th birthday on Sunday – and the birthday boy celebrated by hosting a UFC bout on the White House front lawn.

As the lads got down to it, grappling and choking one another, US officials were attempting to get a deal with Iran over the line. The Israelis seemed intent on messing with the timing at one point – laying siege again to the southern suburbs of Beirut and reportedly killing three people.

Anyway, it all seems to be wrapped up. “Ships of the World, start your engines. Let the oil flow!” announced Trump on his Truth Social platform.

US vice-president JD Vance is reported to be the man who will be putting his name on the dotted line. According to Pakistan’s prime minister, the paperwork will be completed in Switzerland on Friday when the dust finally settles.

With prominent Republicans screaming sell-out, Trump may be wishing to keep a less-than-perfect truce at arm’s length.

The Iranians say the issue of their nuclear programme will be dealt with in a 60-day ceasefire period, while $25 billion in Iranian assets are to be unfrozen. The US will also lift their naval blockade.

Minister for Foreign Affairs Helen McEntee has welcomed the news and says any deal also needs to ensure a stop to the violence in Lebanon. She is meeting with her EU counterparts in Luxembourg today where it will, no doubt, be the main topic on the agenda.

Regardless of how little the US may have achieved after several months of war-war and jaw-jaw, if the Strait of Hormuz opens up properly, then the days of $100 oil might be behind Trump and the rest of us for a little while.

A barrel of Brent crude was trading around $83 this morning – a fair bit higher than the $70 we all enjoyed in February – but certainly better than the $114 seen last month.

Given that excise duty was slashed here during the worst of it – don’t be surprised if petrol and diesel prices potentially drop below pre-war prices. That would be a tricky one for the Government here.

It might just come up during discussions at the National Economic Dialogue in Dublin Castle today. Minister for Public Expenditure Jack Chambers will put on his sternest bargaining face, it seems, and tell unions a new public sector pay deal will have to take account of all the bother abroad.

Trump has announced Iran will not be tolling ships that pass through Hormuz. Party poopers will be keeping an eye on whether the deal permits Iran to levy “service fees” – that might just put a floor on the price of the black gold.

Harris says councils need to do more on dereliction

Speaking of levies, the Tánaiste wants to ensure the owners of derelict properties start paying theirs like they should.

Simon Harris says local authorities are not doing enough to collect the annual 7 per cent levy that applies to buildings that are abandoned or neglected – and he is going to tax them directly.

A memo outlining a new tax – that would be collected by Revenue – goes to Cabinet on Tuesday.

Harris revealed his plan to reporters at a Fine Gael event in Dublin on Sunday. The get together was to mark the 100th anniversary of Garret FitzGerald’s birth.

At the same time as outlining his efforts to end the scourge of dereliction he said the party would start working on a blueprint for Irish reunification.

Fine Gael could not be “passive observers to change”, he said, and that if constitutional change is to happen it needs to be prepared for.

Sinn Féin, meanwhile, will move legislation this week to remove the mandatory three-day wait period for abortion in early pregnancy.

The Dáil will vote on it on Wednesday night – with leader Mary Lou McDonald saying she believed there was widespread support across society for such a move and that the wait period was having a very negative impact on women.

There was much fun and games with our own two byelections here recently, and on Friday the Brits get to enjoy the outcome of one of their own.

Burnham would pursue closer British-Irish relations

Andy Burnham’s ascent lies in the hands of the Makerfield voters. The mayor of Greater Manchester aims to take out the under-pressure Keir Starmer as leader of the British Labour Party – and that is likely what will happen once the Makerfield banana skin is out of the way. The constituency voted in support of Brexit, you see.

Nonetheless, Burnham tells The Irish Times that he will be pursuing closer British-Irish relations if he gets the big job – and would continue the work of repairing the relations damaged by that vote 10 years ago.

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Paul Colgan

Paul Colgan is a contributor to The Irish Times