Fuel Prices Rise Despite Middle East Stability, Driven by Profiteering

Consumers are facing increasing costs at the pump for petrol, diesel, gas, electricity, and home-heating oil, but the surge isn’t directly linked to instability in the Middle East, according to energy expert Daragh Cassidy. Instead, Cassidy attributes the price hikes to profiteering within the industry.

Profiteering, Not Conflict, Driving Up Costs

While the cost of a barrel of oil has increased by $20 since the weekend due to ongoing conflict in the Middle East, Daragh Cassidy, Head of Communications at bonkers.ie, asserts that this increase is not yet being reflected in prices at Irish petrol stations. He suggests the current price increases are a result of companies capitalizing on the situation rather than a direct response to supply disruptions. Midwest Radio reported on this assessment on March 3, 2026.

Daragh Cassidy: A Financial Services Expert

Daragh Cassidy brings over a decade of experience from the banking and insurance sectors to his role at bonkers.ie. He holds a degree in Business and Politics and a Master’s in Digital Marketing. Bonkers.ie highlights his expertise in personal finance, particularly in areas like mortgages and banking fees. He frequently contributes to the bonkers.ie blog, newsletter, and weekly videos alongside teammate Conor.

Recent Commentary on Energy Prices

Cassidy has also recently commented on the broader energy crisis, stating that prices are being “pushed towards the peak of the energy crisis.” RTÉ reported on this assessment in September 2025.

About bonkers.ie

bonkers.ie is an Irish price comparison and financial services website. Daragh Cassidy leads the company’s social media, communications, and PR strategy. The company also hosts the annual bonkers.ie Awards. Bonkers.ie