- 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, Sir Keir will stress that home heating oil costs must be fair, transparent and justifiable.
- This issue is particularly pertinent in Northern Ireland, where approximately two-thirds of domestic properties depend on home heating oil, and the market is unregulated.
- Global oil prices have surged sharply due to the Middle East conflict, directly contributing to the rise in home heating oil expenses.
- The government has asked the Competition and Markets Authority to investigate heating oil prices and warned it will act, including through regulation, if companies hike prices without justification.
IN FULL
