Home heating oil prices in Northern Ireland rose by more than 60% since last Friday. The increase stems from military action in the Middle East that affected global energy markets. More than 60% of households in the region use heating oil for heating.

Economy Minister Caoimhe Archibald spoke with British Energy Minister Michael Shanks and Irish Energy Minister Darragh O'Brien on Wednesday. Shanks stated no short-term risk to fuel supply exists. O'Brien noted concerns over rising heating oil costs across the island and said he plans to contact the energy sector.

Archibald views unjustified price increases as unacceptable. She instructed her department to notify retailers and suppliers of their obligation to price fairly. She also plans to work with agencies on pricing transparency.

Archibald requested consumer support from Shanks during this energy disruption, similar to assistance provided after Russia's invasion of Ukraine. Shanks agreed to monitor developments. Archibald pledged continued coordination with British and Irish governments.