Drop in price of home heating oil in Northern Ireland over last two weeks

According to the Consumer Council Home Heating Oil Price Checker the average price for on February 2 for 900L of fuel is £782.69.

Meanwhile, on January 26 the same 900 L volume of oil cost an average of £799.30 in NI.

And if you reverse to January 19, 2023 the cost of £900 was £762.57, and further still to January 12, 2023 the price was £752.50.

And according to the Consumer Council Home Heating Oil Price Checker the lowest price to 900L home heating oil is in the Fermanagh and Omagh area – £774.93.

This, according to the Consumer Council is followed by the Mid Ulster area – £778.60.

And the highest price for home heating oil, according to the site is Newry, Mourne and Down – £789.17.

Along with the figures, the Consumer Council say: ‘Every week we survey suppliers across Northern Ireland to benchmark prices on the cost of home heating oil.

‘You might have a regular supplier, but you may save money by using this tool to check if you are paying more than average price.

‘Make sure to shop around and look at other suppliers, as many will deliver further afield at no extra cost. This tracker does not forecast future prices – they are correct at the time of the survey.

‘Not every town or supplier is represented but we hope this information gives you an idea of what you could be paying, and helps you shop around for a better deal.

All prices surveyed include 5% VAT.’

Today it has emerged that Shell has reported profits of $39.9bn (£32.2bn) in 2022, the highest in its 115-year history.

BP will report its 2022 results on February 7.

They are expected to show considerable increases as the three quarters already reported have all at least doubled.

According to the BBC both companies have been increasing their dividend payments, which is the money they give directly to shareholders.