Published Tuesday, 07 February 2012
The watchdog has called for an investigation into EU levels of fuel cost after the government announced plans to increase fuel duty last year.
This rise of three pence per litre has been delayed from January to August, a move which the group says has given "limited relief" to local consumers.
However they argue that with prices in NI already higher than anywhere else in the UK and Republic of Ireland, urgent action is needed.
"We need to know what government intends to do to address this long running issue," said Aodhan O'Donnell of the Consumer Council.
"The decision to delay the planned fuel duty increase from January 2012 until August 2012 has had an impact on the price consumers pay in the short term.
"However, it is unlikely there will be a significant downward shift in petrol and diesel prices by August which means the impact on consumers is simply being delayed."
The three pence tariff increase may not sound like much, but it would make the cost of filling the average car £1.50 more expensive in total.
Over the past 20 years the price of petrol has tripled.
The Consumer Council has also called for the Executive to invest more into the public transport network as a viable alternative to driving a car.
Phil Flanagan, Sinn Féin's Enterprise Spokesperson, has said that "urgent action" is needed to tackle the soaring price of both petrol and diesel.
"This is a further indictment of the British government's failure to introduce fuel price stabilising measures."
The Fermanagh & South Tyrone MLA said the government needs "to take action to minimise the effects of increasing oil prices by freezing or reducing the level of taxes applied to petrol and diesel."
"Action also needs to be taken to ensure that when the world price of crude oil falls that the reduction is passed on to consumers as rapidly as increases are imposed."
Mr Flanagan said that increased fuel prices not only hit motorists, but also on transport and business costs which are "inevitably passed on to consumers in the form of increased price of goods and services."