Wholesale energy prices ease, but household costs still set to increase

Wholesale energy prices have eased, partly due to Russian president Vladimir Putin ordering Gazprom to fill its European gas storage sites next month, which should ease supply tightness. 

Wholesale energy prices have continued to ease, although the huge increases in international oil and gas prices over the past month are still likely to filter down to rising fuel and heating costs for Irish consumers over the winter.

Oil prices have risen by 115% in the last 12 months, while a 7% increase in the last month will result in higher petrol prices for Irish motorists in the coming weeks, experts warned this week.