I am not one to defend Irish Rail too often, but it is normal behaviour to vary the prices at times of peak demand. Try getting a 10 euro single flight on Ryanair on a walk-up fare on Christmas eve. It isn't going to happen.
That restriction goes back at least 5 or 6 years if not a lot further. It is a question of demand management. They need to manage the demand on a Friday evening so the day return isn't available to get the price-sensitive day-trippers travelling Monday - Thursday.
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