Northern Ireland Fuel Prices Soar Amid Government Subsidy

Northern Ireland is facing its biggest weekly jump in fuel prices since the US and Israel's bombing of Iran in March, according to new data from the Consumer Council for Northern Ireland.

The average price of 900 litres of home heating oil has surged by £120 in just a week, reaching £1,007 today, with Ulster University economist Esmond Birnie attributing some of this increase to the government's £100-per-household home heating oil subsidy.

Home heating oil prices are now back above £1 per litre, even when bought in bulk, despite being below their peak of £1,089 reached in early April. The current trajectory suggests that by next Thursday, prices will have exceeded this level.

Petrol and diesel prices have also increased sharply over the past week, with petrol rising to 164.1 pence per litre (ppl) and diesel reaching 185.6 ppl. Neither of these fuels has seen a one-week jump like this since the immediate aftermath of the Iran attack.