Urgent call for action as rising oil and gas costs hit households and businesses

Date published: 10 March 2026

It comes as consumers using heating oil saw prices rise over 80% in less than a week.

The Minister’s call for action builds on her engagement last week with her Irish and British Government counterparts, business, consumer, and industry stakeholders, on the stark price rises in petrol, diesel and heating oil.

Today writing to the Department for Energy Security and Net Zero Minister, Michael Shanks MP, Minister Archibald expressed deep concern about the impact on local people, particularly on lower income families, vulnerable consumers, and businesses, already burdened by the rising cost of living.

The Minister said: "Unprecedented price spikes, following the Israeli/US attack on Iran, are being felt by local homes and businesses across the north. With so many people already struggling with the cost of living, the speed and scale of these increases risk causing real hardship and need to be met with support from the British Government like that made available following the Ukraine invasion.”

Following Russia’s invasion of Ukraine in 2022, the British Government introduced a series of financial support schemes to shield consumers and businesses from the extreme price volatility including reducing unit costs for domestic electricity and gas customers and targeted wholesale energy price discounts to businesses and the public sector.

The Minister added: "These measures made a real difference during the last energy crisis. Given the scale of the current price shock, it is essential that similar options are examined urgently. Households and businesses here must not be left to bear the brunt of these costs.”

The Minister remains in active engagement with the Irish and British Governments, the Utility Regulator, and industry stakeholders as the situation develops.