Global oil price gushes signaling higher household bills       

It takes about two weeks of sustained crude oil price hikes to show up in higher distilled prices at the pump in Ireland and a little longer for energy bills

9/10/12

Global crude oil prices jumped about 3% in Friday's session, hitting their highest levels since before the onset of the Covid crisis, which means bad news for Irish businesses and households who will face higher energy costs.                

Prices gushed after a stronger-than-expected US jobs numbers which suggest the major economy would rebound quickly and also came after a decision by Opec and its allies not to increase supply.