A farm organisation has accused the government of "behaving like a mildly disapproving spectator" in relation to price gouging by companies.

The Irish Creamery Milk Suppliers' Association (ICMSA) has been "inundated with calls from farmers complaining" about price gouging and price jacking, its president Denis Drennan said.

He added that people are "infuriated".

Amid escalating tensions in the Middle East, Drennan said he is aware of "instances of farmers who received calls on Monday informing them that quotations for fuel they had received the previous Friday were now to be disregarded".

He said these farmers were told "they could expect to pay 25% more than had been originally quoted".

Price gouging

Taoiseach Micheál Martin said in terms of the energy situation, from anecdotal accounts, it "would appear there is a degree of price gouging is going on".

"In our view, both the Commission for Regulation of Utilities (CRU) and Competition and Consumer Protection Commission (CCPC) should closely monitor what is happening and people who have complaints should immediately complain to the CCPC and the CRU," the Taoiseach said.

"We will keep this under continual review in terms of how it develops over the next number of days and weeks," he added.

'Standing to one side'

Drennan criticised the Irish government for "standing to one side twisting its hat in its hand and pleading with the suppliers to show a bit of restraint".

“Are we ever going to see the Irish government tell a supplier or utility that they are categorically not to raise prices [until] their existing stock - which was purchased at the ‘old’ lower prices - is exhausted and that the government will be monitoring closely that situation?" the farm leader continued.

"It’s just slightly pathetic to see and hear ministers saying that companies shouldn’t be using wars as an opportunity to price gouge when that is exactly what is happening, certainly in the fuel markets and increasingly on fertiliser, too.

"We have prices jumping by 20% to 25% from midnight on the day that hostilities broke out and then taking months to fall back to their original price when those hostilties end and normal supply can be resumed."

Drennan said there needs to be "categorical instructions" that prices are not to be raised on existing stocks.

"If that’s too difficult for the government to contemplate or supervise, then we need [the] government to temporarily reduce its own take on fuel to offset the companies’ incliniation to price gouge," the ICMSA president added.