Longford-Westmeath TD Robert Troy says it's a volatile situation.
The Tánaiste says the Government has levers to put further pressure on any petrol station which doesn't pass on excise duty cuts.
There have been mixed reports from across the country about the pace at which the tax cuts, which came into force at midnight, are reaching consumers.
Simon Harris says he'll be meeting European Ministers later in the week to discuss responses to any war profiteering.
Minister of State for financial services and Longford-Westmeath TD Robert Troy says the reopening of the Strait of Hormuz will alleviate the situation:
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