To ask the Minister for the Economy to detail any monitoring arrangements her Department has in place to (i) track volatility in the home heating oil market; and (ii) assess its impact on consumers.

The escalation of conflict in the Middle East has increased volatility in global energy markets.

The Consumer Council actively monitors heating oil prices across the North and publishes weekly average prices. This provides consumers with clear, comparable information on prevailing prices, helping them to make informed purchasing decisions and to shop around between suppliers.

The Trading Standards Service works to protect consumers from illegal trading practices, such as unfair pricing, while supporting legitimate businesses. It provides guidance to oil retailers on their obligations and if consumers have a complaint about oil deliveries, they should contact the Department for the Economy’s consumer advice helpline Consumerline on 0300 123 6262 or log on to Consumerline.

I welcome the Competition and Markets Authority’s announcement of a market study into home heating oil. It will serve to strengthen competition, improve transparency and consumer protection, and ensure pricing reflects genuine costs.

In recent weeks I have met heating oil, natural gas, National Energy Action, and wider business organisations to understand first-hand what cost pressures are in the market and the impact these are already having on lower income and vulnerable households and businesses.

I am meeting regularly with the Ministers from the Department for Energy Security and Net Zero, Michael Shanks and Martin McCluskey. I continue to press for urgent consumer support, as the £17million confirmed on Monday 16 March is clearly inadequate to help those who are struggling with rising energy prices.