Oil prices have dropped this year but are above the long-term average, the Consumer Council says.
People in Northern Ireland are facing a "relatively difficult winter" as home-heating oil prices remain high, the Consumer Council has said.according to the Northern Ireland Consumer Council
According to the regulator, the average annual price of gas and electricity was £1,236 in October 2021 - in October 2023, this is now £2,415.Peter McClenaghan, director of infrastructure and sustainability at the Consumer Council, said lingering high prices are "quite unpleasant" for many consumers. Just after Russia invaded Ukraine in February last year, the price of 500 litres of oil spiked to £660. It then cost between £400 and £500 for most of the year and fell in the early months of this year.
"People are going to still have a very similar customer experience as they did last winter when it comes to trying to heat and power your home."A barrel of Brent crude was priced at below $80 a barrel at the end of July but is now closer to $90.
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