Households could be facing into a 20 to 25pc increase in energy bills, with food prices likely to rise too

Growing your own produce won’t eliminate your grocery bill and can require some initial setup, but can make a difference. Photo: Getty.

Growing your own produce won’t eliminate your grocery bill and can require some initial setup, but can make a difference. Photo: Getty.

Despite a slump in oil prices after US president Trump promised to hold off on strikes against Iran, the cost per barrel has bounched back up again following Tehran’s report that no deal had been reached.

As a result, plenty of people globally – and certainly in Ireland – will be reassessing their finances when faced with the price of petrol in the coming days and weeks.