Inside Business Podcast

How the conflict in the Middle East is already affecting Irish consumers

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Host Ciarán Hancock is joined by an expert panel

Listen | 36:47
As the transit route through the Strait of Hormuz, the only sea passage out of the Persian Gulf, has been suspended due to the ongoing joint US-Israeli military operation, oil and gas supply to Europe has been disrupted with containers having to reroute to places like Cape Town.
As the transit route through the Strait of Hormuz, the only sea passage out of the Persian Gulf, has been suspended due to the ongoing joint US-Israeli military operation, oil and gas supply to Europe has been disrupted with containers having to reroute to places like Cape Town.
Wed Mar 04 2026 - 15:35

As the US-Israel attacks on Iran intensify and the conflict spreads in the Middle East, the impact on the world economy is already being felt.

Ireland is already seeing motor fuel prices creep upwards, and the cost of home-heating oil soar in recent days.

Do those price increases reflect reality or are Irish consumers getting taken advantage of? Will prices continue to rise? And how soon before Donald Trump can claim victory and find a resolution?

Host Ciarán Hancock is joined in studio by Cliff Taylor of the Irish Times, professor in energy economics at UCD, Lisa Ryan, and Head of Global Equities at Davy, Aidan Donnelly.

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Produced by John Casey with JJ Vernon on sound.

IranUSDonald TrumpIsrael Energy Costsoil
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