Fuel costs are beginning to fall as wholesale oil prices retreat, though consumers may face a longer wait for lower gas and electricity bills.
Petrol and diesel prices have fallen slightly at the pumps.
It's in response to the US and Iran signing a peace framework.
Consumers are being advised gas and electricity prices will take some time to decrease.
According to the Irish Times wholesale oil prices have already come down, with a barrel of Brent Crude trading at about $76 (€66) on Thursday compared to $118 at the peak of the current crisis and prolonged periods above $100. We are starting to see this reflected at the pumps, with petrol and diesel prices easing – diesel, in particular, had already come well off its highs after a supply squeeze.
Cliff Taylor, Managing Editor with the Irish Times, says it's not yet known if the Government will extend the excise cuts past July:
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