John O’Dowd said the powersharing Executive does not have the financial “firepower” to fund any relief scheme. Chancellor of the Exchequer Rachel Reeves has acknowledged the ‘unique issues’ around heating oil (Stefan Rousseau/PA)Chancellor Rachel Reeves has already acknowledged the “unique issues” around heating oil, which is used by around two thirds of domestic properties in Northern Ireland. The Consumer Council said the average price of 500 litres of home heating oil in Northern Ireland saw an 81% increase in a week after the start of the conflict. The heating oil market in Northern Ireland is unregulated, unlike gas and electricity. “People right here are facing the consequences, particularly of rising home heating oil costs and that needs to be dealt with.”Mr O’Dowd said similar schemes had been rolled out in the past.

Source: The Herald March 10, 2026 15:36 UTC