"Prime Minister Sir Keir Starmer has pledged that the government "will not tolerate" heating oil suppliers exploiting the Middle East crisis for profit. During a visit to Belfast on Thursday, Sir Keir will stress that home heating oil costs must be "fair, transparent and justifiable"."
"This issue is particularly pertinent in Northern Ireland, where around two-thirds of domestic properties depend on home heating oil. Global oil prices have surged sharply due to the conflict, with Iran launching strikes following attacks by the US and Israel, directly contributing to the rise in home heating oil expenses."
"The market in Northern Ireland, unlike gas and electricity, is unregulated. Treasury minister Lord Livermore met with some Northern Ireland MPs on Wednesday to discuss the issue."
Prime Minister Sir Keir Starmer has committed to preventing heating oil suppliers from exploiting the Middle East crisis for excessive profits. During a Belfast visit, he emphasized that home heating oil costs must remain fair, transparent, and justifiable. This issue is particularly critical in Northern Ireland, where approximately two-thirds of domestic properties rely on home heating oil for heating. Global oil prices have risen significantly due to Middle East conflict, with Iran launching strikes following US and Israeli attacks, directly increasing home heating oil expenses. The Northern Ireland heating oil market remains unregulated, unlike gas and electricity sectors. Treasury minister Lord Livermore met with Northern Ireland MPs to address these concerns.
Read at www.independent.co.uk
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