13/09/2001
Consumer outrage at oil price hike
Northern Ireland's General Consumer Council has heavily criticised the oil industry for “hiking” up oil prices following Tuesday’s horrific terrorist attacks in America.
Chairman of the General Consumer Council Joan Whiteside said oil providers in the province had raised prices on their existing stocks just 24 hours after the attacks in the US.
Mrs Whiteside said: "Angry consumers have been ringing to ask us why oil has gone up so dramatically within 24 hours. They are outraged that the oil industry is profiteering from the terrible events of Tuesday."
She added: "We cannot see justification for oil companies jacking up the price on existing oil stocks. The council demands the oil consumers get a fair deal."
Following the devastation of the New York World Trade Centre’s twin towers with the loss of thousands of lives on Tuesday, oil prices jumped nearly $4 a barrel in London, before trading was suspended on most major world commodity exchanges.
However, when trading resumed, the price of oil seemed to be stabilising.
Prices of oil, gold and bonds, which surged after the strikes as money switched to assets considered "safe havens", fell back in trade on Wednesday. (AMcE)
Chairman of the General Consumer Council Joan Whiteside said oil providers in the province had raised prices on their existing stocks just 24 hours after the attacks in the US.
Mrs Whiteside said: "Angry consumers have been ringing to ask us why oil has gone up so dramatically within 24 hours. They are outraged that the oil industry is profiteering from the terrible events of Tuesday."
She added: "We cannot see justification for oil companies jacking up the price on existing oil stocks. The council demands the oil consumers get a fair deal."
Following the devastation of the New York World Trade Centre’s twin towers with the loss of thousands of lives on Tuesday, oil prices jumped nearly $4 a barrel in London, before trading was suspended on most major world commodity exchanges.
However, when trading resumed, the price of oil seemed to be stabilising.
Prices of oil, gold and bonds, which surged after the strikes as money switched to assets considered "safe havens", fell back in trade on Wednesday. (AMcE)
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