Oil price dips in Northern Ireland despite price pressure from war in Middle East

​A fear factor initially made markets jump after Hamas terrorists deadly attack in Israel on October 7 as tensions in the Middle East could lead to disruptions in supplies from big oil-producing countries.

Despite those fears, oil prices have stabilised, in fact dipped, partly due to a delay in a ground invasion of Gaza by Israeli troops, and partly due to mild weather.

The price of oil in Northern Ireland is cheaper than this time last year: 500 litres is about £385, it was £465, 900 ltrs is £685, it was £825. However, prices could rise yet again as the Israeli military has said its ground forces are "expanding their activity” in the Gaza Strip.

With a potential escalation of the conflict in coming days, David Blevings, of NI Oil Federation said: “We would advise all oil users to top up now as prices remain very competitive and to take advantage of these stable prices."

Meanwhile, pro-Palestine activists have called off a protest at a major retail outlet in Londonderry after saying that it has met their demands to drop Israeli beauty products from sale. Members of the Londonderry branch of the Ireland Palestine Solidarity Campaign had planned to protest outside Home Bargains in the city after being angered by the sale of cosmetics made using Dead Sea minerals. However, the protest has been cancelled as the activists confirmed that following discussions with Home Bargains, “all Dead Sea products have been removed.”

The chain retailer refused to comment on whether those claims were true or false.

Jim Shannon, the DUP's spokesman on human rights issues, told the News Letter firms should not be "bullied” in relation to products.