Home heating oil jumps by roughly 8% in a week in Northern Ireland as pump prices also surge - especially diesel
Home heating oil has risen for a second week, with the average price of 900 litres now well into four figures – as the price of fuel at the pumps also surges while war continues in Iran.
The past week has seen some examples of firms charging over £1,000 for a 900-litre load of oil, but today’s official figures show that this is now typical across Northern Ireland.
The data comes from a survey that’s carried out weekly by the Consumer Council, the statutory watchdog which operates under the Department for the Economy.
It also shows a jump in petrol and diesel prices too – much steeper than the one a week earlier.
Last Thursday petrol stood at an average of 126p per litre (up by about 0.9%), and diesel at 133.8p (up about 1.1%).
Now petrol stands at 134.5p per litre (up 6.7%) and diesel stands at 149.6p (up by 11.8%).
Here is the latest breakdown of average heating oil prices in Northern Ireland (with the rise from the previous week in brackets):
300 litres: £377.16 (up 8%)
500 litres: £596.19 (up 7%)
900 litres: £1,037.48 (up 9%).
This puts the average price per litre up to £1.15 for a 900-litre load, £1.19 for a 500-litre one, and £1.26p for a 300-litre one.
A week earlier the average price per litre was £1.05 for a 900-litre load, £1.11 for a 500-litre one, and £1.16 for a 300-litre one.
The only thing to console consumers is the fact that this hike is nowhere near as steep as the one that preceded it seven days earlier.
Here are the figures as they stood on March 5 (with the rise from the previous week in brackets):
300 litres: £347.19 (up 72%)
500 litres: £555.59 (up 81%)
900 litres: £948.41 (up 77%).
All of this means that the prices are now about at about 88% of their peak, which was in February 2022 (following the Russian invasion of Ukraine).
At that time, 900 litres of oil cost an average of £1,181.53 in Northern Ireland.
As well as relying on the Consumer Council’s weekly averages, the News Letter has been monitoring the daily prices of six firms spread across the six counties, and here are the latest quotes for 500 litres at time of writing:
North Down firm: £621 (up from £571 on Wednesday)
North Armagh firm: £567.99 (down from £574 on Wednesday)
Mid-Antrim firm: £615.83 (unchanged)
South Tyrone firm: £599.81 (unchanged)
Londonderry city firm: £599 (unchanged)
West Fermanagh firm: £599 (unchanged)