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PRESS RELEASES
27 September 2006
Gas Price Hike Again!
As Northern Ireland natural gas customers reel from the latest 14.5% price hike from Phoenix, the oil industry states that it issued a warning that this scenario was inevitable several years ago. David Blevings of the Northern Ireland Oil Federation said, “There is well documented concern over future gas supplies as the UK and Ireland will become a net importer of gas by 2010 and inevitably this will affect prices. We raised this issue with local Ministers up to six years ago but our please were ignored”. “However we are more concerned at the local hike in prices and its effect on consumers as we move into the peak demand time for fuel – would it not have been better to increase prices after the winter when demand has receded to minimise the impact on low income users? We find it ironic that gas prices are increasing as crude and retail oil prices recede”. “The good news for oil consumers is that oil prices are falling and customers will see at least a 15 - 20% saving when filling their tank this winter compared to last year. According to Sutherland it was cheaper to heat your home with oil rather than Phoenix Natural Gas in May 06 and with these reductions the cost savings over natural gas will further increase”. “With this latest gas price rise, it would appear that the prudent home owner should continue to benefit from safe, efficient and economical oil home heat”.