The Government has announced the postponement of the planned reintroduction of fuel excise and levies in September and October.

In a statement, the Government said: “In June, the Government announced an extension of the temporary reductions to fuel excise and the National Oil Reserves Agency (NORA) levy and to avoid any cliff edge removal of supports, it set out a pathway to gradually restore rates to pre-reduction levels, starting from September 1.

"However, it is clear that in the intervening period there has been a change in the global situation and as a consequence the cost of petrol and diesel for consumers.

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"The Taoiseach, Tánaiste and Minister of State Seán Canney have kept in close contact in recent days and weeks and this morning agreed that the planned increases on September 1 and October 1 will not now go ahead.

"The Government will agree the next steps next week.”

The Government cuts in excise and duties this year amount to 32c on a litre of diesel and 27c on a litre of petrol. The plan was to reintroduce these on a phased basis between September and October.

Agile

In its statement, the Government said: “We will continue to be agile and rule nothing out.”

In recent weeks, there has been a rapid rise in fuel costs for farmers, with the price of green diesel nearing €1.50/litre after rising more than 10% in a matter of days, according to the Association of Farm and Forestry Contractors in Ireland (FCI).

The fuel protest group behind the blockade of ports and Dublin city centre earlier this year had said it would immediately move to a fresh set of protests if the duties had returned as planned on 1 September.