“We will not tolerate profiteering or unfair practices,” the Prime Minister said in Belfast on Thursday, 12 March, promising to step in - “including on regulation” - if heating oil companies hike prices without cause. He is in the city to focus on the cost of living as households face steep oil bills. (gov.uk)

Downing Street said Keir Starmer will meet the First Minister, deputy First Minister and leaders of the five main parties to discuss what the UK Government is doing to make people better off in Northern Ireland. The message to suppliers is blunt: prices must be fair, transparent and justifiable. (gov.uk)

Northern Ireland’s dependence on home heating oil is unique in the UK. Official figures from NISRA show 61% of households used oil as their primary heating source in 2024/25. Unlike gas and electricity, heating oil is not regulated here - something that leaves consumers more exposed when global prices lurch. (nisra.gov.uk)

The Consumer Council’s weekly tracker underlines why nerves are frayed. The average price for 500 litres jumped from £307.38 on 26 February to £555.59 by 5 March - an 81% rise in seven days, with many families forced to buy in 300, 500 or 900 litre drops. (consumercouncil.org.uk)

On Wednesday, the Competition and Markets Authority said it is examining the heating‑oil market after reports of cancelled orders being re‑quoted at much higher prices and spikes on automated top‑ups. “Prices should reflect genuine cost pressures,” CMA chief executive Sarah Cardell said, as officials wrote to suppliers for evidence. (gov.uk)

Stormont ministers have pressed for help. Finance Minister John O’Dowd said the Executive lacks the “firepower” for a relief scheme and wants Westminster support, while the Chancellor, Rachel Reeves, has asked the CMA to act and argued that “throwing public money” at price spikes is not the answer. (itv.com)

UK officials also point to wider measures aimed at household costs. Downing Street says the fuel duty freeze and the new open‑data Fuel Finder scheme for petrol and diesel have saved the average Northern Ireland driver £89, with up to 140,000 people here benefiting from rises in the National Living Wage and Minimum Wage. The statutory Fuel Finder system - requiring forecourts to publish near real‑time pump prices - is now being implemented. (gov.uk)

If evidence shows firms are fleecing customers, enforcement could follow. The CMA says it is using its consumer powers under the Digital Markets, Competition and Consumers Act 2024 and can escalate from guidance to formal action if it finds breaches - a signal that the watchdog is prepared to intervene quickly. (gov.uk)

For households watching every pound, the Consumer Council’s advice is to shop around and use its price checker, updated weekly with average quotes across Northern Ireland. Keeping records of orders and promised prices will also help if complaints arise about cancellations or sudden surcharges. (consumercouncil.org.uk)

Starmer will round off his Belfast visit by speaking with community groups about what support would make a real difference this spring. Families across the North will expect swift clarity on whether scrutiny alone will curb the sharpest price rises - or whether ministers will move to regulate an unprotected market. (gov.uk)