Bulk-bought home heating oil back up to almost £1 per litre again as fuel costs continue to balloon
The price of home heating oil – as well as forecourt fuel – has risen yet again.
In fact, home heating oil is back up to nearly £1 per litre when bought in bulk.
According to the Consumer Council’s latest weekly survey data, the average price of 900 litres of home heating oil now stands at £887, up by £18 on last week – and way higher than the start of July, when it had dipped as low as £615.
Before the Iran war began, the average price of 900 litres had been about £516, before shooting up to £1,089 in April, then declining.
Meanwhile the price of both petrol and diesel is also up on a week before.
The Consumer Council says that the average cost of diesel in the Province as of today is 177.9ppl, up by 2.9ppl on the previous week.
As for petrol, it now stands at 157.1ppl, up 2.8ppl on a week earlier.
Before the war, diesel had averaged out at 132.6ppl in the Province, before hitting a high of 188.1ppl in April, then coming back down as low as 154.6ppl in July.
It has been rising again ever since.
Before the war petrol averaged 124.8ppl in Northern Ireland before spiking to 154ppl in April.
It has since meandered up and down, and is currently at its highest level since the war started.
President Donald Trump said on Wednesday that oil prices that have surged because of the Iran war likely won’t come down until after the US midterm elections in November.
Oil prices jumped more than 3% on Thursday, pushing international Brent crude past the $100-dollar threshold for the first time since July.
At the outset of the war, Mr Trump said it would last a matter of weeks.
The war is now in its seventh month.