Political representatives have expressed dismay and demanded action after a spike in the costs of home heating oil and petrol and diesel in recent days.
The ongoing situation in the Middle East is being blamed.
But people have taken to social media to accuse sellers of “trying to turn a quick buck”.
Several people have contacted Armagh I to voice their anger at the situation.
One said: “Our local oil suppliers were not long jumping on the bandwagon in relation to greatly increasing their oil prices. This is disgusting, considering the oil they are delivering was bought at a lot lower price.
“They are disgusting, taking advantage of their customers. Where are the regulators to stop them fleecing people?”
Another said: “I held out on getting oil as the price usually goes down coming into this time of year, but then to be facing these rises is ridiculous.
“The oil and petrol they are selling is what they already had, so they bought it at the price they were prepared to sell it at a week ago. How can they possibly justify putting up prices so quickly? I can understand if supplies were not there, that there had been a shortage now in getting it and costs had increased that some of this may be passed along to the customer.
“What they are doing is wrong. They are rewarding customers’ loyalty with a slap in the face, trying to stick their arm in where they can.
“We have not seen charges like these since the height of the Covid pandemic. It’s not quite that high just yet but it is certainly well on the way to getting there and no doubt will reach and probably surpass it.”
Prices have indeed risen sharply in recent days as the situation surrounding Iran has escalated.
One local provider which covers the Armagh area had been charging £290 for 500 litres of oil towards the end of last week. This rose to £315, then again to £360. It hit £399 yesterday morning (Monday), and by last night was sitting at £460 – a £170 increase in a matter of days.
Other providers are showing similar increases in percentage turns.
And the price at the pumps for petrol and diesel are also experiencing hefty hikes.
Local MLAs have reacted to the situation by demanding answers and seeking reassurances.
Newry and Armagh Assemblyman Justin McNulty has written to the First Minister Michelle O’Neill and Deputy First Minister Emma Little-Pengelly.
In a priority written question on Monday from the SDLP representative, he asked both, “given their role in the delivery of social change”, to “detail any plans they have to address the impacts of increased energy prices arising from the conflict in Iran, which may negatively affect the cost of living”.
And Ulster Unionist Leader Jon Burrows has targeted his questions at the utility regulator in Northern Ireland.
He said “energy prices have risen sharply in recent days as a result of the ongoing conflict in the Persian Gulf”.
And in his letter, Mr Burrows asked the regulator to “take all appropriate steps to protect consumers in Northern Ireland and to ensure that energy providers do not seek to profiteer from what may ultimately prove to be a short-term disruption to supply”.
And he added: “Households are already under considerable financial pressure and I am sure you will agree that any unnecessary or opportunistic increase in costs would place an unacceptable burden on consumers.”
The North Antrim MLA said his intention in writing was to “seek assurance that energy companies will not use international developments as a basis for imposing unjustified or excessive charges on consumers”.
For said consumer, meanwhile, all they can do is watch and wait and hope that it is a short-term spike with prices returning to the more manageable levels of last week as soon as possible.
