Diesel prices could rise by 10 cents and petrol by 2 cents this weekend.
The Enterprise Minister says a cheque can't be written every month to reduce excise duties.
It comes as concern grows over the impact the latest escalation in tensions in the middle east will have on energy costs.
Prices are expected to rise at forecourts over the weekend by up to 10 cents for diesel and 2 cents for petrol.
Minister Peter Burke says the government has to be careful how it responds :
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