Many home and business owners were shocked this morning to find out that gas prices were due to rise by a massive 39.1 per cent from May 1st according to oilfiredup.com.
The increase is due to one supplier, gas utility company, Pheonix, raising their prices.
The new rises will see homeowners paying on average Â£603 per year on their gas bills, an average of an extra Â£3.28 to each bill.
The company have commented that the price increase has been heavily down to wholesale energy costs resulting from international oil and gas prices.
David Strahan, Managing Director of Pheonix Supply LTD, said: "Phoenix Supply, like other energy companies across the UK, is experiencing much higher wholesale gas costs. While other companies in Great Britain moved quickly to increase their prices during the winter we were able to hold our prices at the current reduced level throughout the peak winter heating period. This has been of particular benefit to Northern Ireland customers during what has been one of the coldest winters on record.
"This increase, whilst unwelcome, will come into effect at the start of May when traditionally energy consumption decreases. This revised tariff sets natural gas prices at around 12 per cent below the level they were at back in 2008."
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