Excise duty on diesel will fall by 20 euro cents a litre and by 15 cents a litre on petrol from Tuesday midnight until the end of May, said Irish prime minister Micheal Martin.

The move -- part of a 250 million euros ($290 million) package of measures -- aims at "cushioning" households and business from "the worst impacts of the price shocks" caused by conflict in the Middle East, said Martin.

Since the start of March, retail prices for petrol have climbed by over 25 cents a litre while diesel prices have risen by 55 cents.

Other measures in the package include a tax rebate scheme for road hauliers and an extension of a fuel allowance period for almost a half million households.

Martin told reporters in Dublin that the government is "not contemplating" the rationing of fuel as seen in Slovenia.

Petrol stations are expected to cut retail prices once deliveries of reduced excise fuel arrive.

Martin said the decision to set a two-month period for the excise cuts was based on advice heard at a meeting EU government leaders last week to introduce targeted and temporary measures to "reduce pressure on people".