Moville Labour Councillor slams ‘classic price gouging’, as oil prices remain high

Inishowen Labour Councillor, Martin Farren, has called for urgent action to protect households in Inishowen from sudden hikes in the price of home heating oil, warning that families in the area cannot be left exposed to profiteering by suppliers.

Cllr Farren said families in Inishowen are already dealing with huge pressure from the cost-of-living crisis.

“Energy bills, groceries, rent and mortgages are already stretching household budgets to the limit. Now, many people in Inishowen are seeing heating oil prices shoot up overnight with no clear justification.”

“What we are witnessing looks like classic price gouging. Suppliers are blaming events in the Middle East for sudden increases, yet the oil currently being delivered to homes in Inishowen has often been in the country for weeks or months. There has been no sudden disruption to supply and there is no shortage of oil that would justify hammering households with higher prices.”

“For many families, heating oil is not a luxury. It keeps homes warm, particularly for older people, young children and vulnerable households. When prices jump suddenly, it creates real fear for people who are already struggling to make ends meet.”

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Cllr Farren said the law already gives Ministers the power to act. Under the Consumer Protection Act, the State can introduce a maximum price order when abnormal circumstances affect the supply of a product.

“That power exists to protect people when companies try to exploit international events to drive up prices,” the Moville Councillor said.

“People are rightly asking why Fianna Fáil and Fine Gael are not using these powers. Even the Taoiseach has acknowledged there is no supply shortage and that much of Ireland’s oil comes from the North Sea. If there is no shortage, then there is no excuse for allowing suppliers to raise prices in this way”.

“Communities like ours should not have to absorb sudden price shocks because companies see an opportunity to boost their margins. Families here are trying to plan their household budgets and keep their homes warm. They need certainty and protection, not excuses.”

Cllr Farren added: “The message from people across Inishowen is clear. Enough is enough. Households cannot continue to carry the burden while companies take advantage of global instability”.

“I’m calling on Fianna Fáil and Fine Gael to introduce a maximum price order immediately and cap heating oil prices, so that families are protected from unjustified price hikes.”