Eamon Ryan (Dublin Bay South, Green Party) | Oireachtas source

If I may finish my point, that very high price of gas related to particular circumstances, including a Texas liquified natural gas, LNG, plant being under repair and unable to ship, as well as a threatened gas strike in Norway. That sent the price really high. The price will probably come back down. We are assessing this daily, particularly in terms of the forward market. Brent crude oil is trading today at $103 a barrel. It was $115 a barrel a week ago. There tends to be a two-week lag. That decrease will start to work through in the next week or two. The price at the pumps should start to come down to reflect it.

The medium-term prognosis on gas is for continuing high prices. As members are aware, the concern is that Russia has started to restrict gas supplies into Europe again, including through the Nord Stream pipeline. It has shut off its gas connection to certain countries. That action relates to the war; it is a tactic in that struggle. The war is attritional at the moment and there is no end in sight. Unfortunately, that is likely to mean continued high prices.