Sinn Féin Phil Flanagan MLA said the flippant response by the NI Oil Federation to the recent report by the Consumer Council of a 60% increase in home heating oil prices in three years amounts to the Federation burying its head in the sand.

The Fermanagh/South Tyrone MLA and party Energy Spokesperson said: "I welcome the publication of this latest report from the Consumer Council and fully support their call for the introduction of regulation into the home heating oil market.

"However the response from the NI Oil Federation is predictable, has completely missed the point and amounts to the Federation burying its head in the sand regarding the scale of the problem facing many households.

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"The two thirds of homes here who use home heating oil deserve transparency on what they are spending their money on and at present they do not have that. We know that oil distribution companies are struggling to survive as their own operating and transportation costs continue to soar.

"While the delivery companies could change their operations in order to reduce the price that consumers pay, the main problem stems from the multi-national companies.

"Consumers have a right to see how much of a cut these multi-national companies bringing the oil into the local market take before they sell it onto the smaller distributors.

"Only the introduction of regulation ensuring price transparency, greater health and safety protection as well as measures to improve the efficiency of oil boilers can help drive down the cost of energy for households and inject some much needed confidence into the sector."

(CD)