The average cost of 500 litres of home heating oil in Northern Ireland has risen by £100 in just three weeks, according to the Consumer Council for Northern Ireland (CCNI).
The sharp increase marks a reversal of a brief period of price stability, driven directly by the ongoing conflict between the US and Iran.
This retail price spike underscores the immediate transmission of geopolitical risk to European energy consumers.
While global benchmarks like Brent crude have already repriced the supply disruption risk in the Strait of Hormuz, the lag in retail markets is now closing as distributors pass on higher wholesale costs.
The CCNI explicitly linked the surge to the US-Iran conflict, highlighting how shipping risks and potential supply bottlenecks are translating into tangible cost-of-living pressures for households.
The situation in Northern Ireland mirrors broader trends across Europe, where energy prices are increasingly sensitive to Middle East instability.