Home oil prices in Northern Ireland plunge to the lowest level since the Russian invasion of Ukraine, and are now half their peak level

​The latest survey from the Consumer Council NI found that the cost of purchasing 900 litres was a mere £599, which means that prices have halved since the Putin attack.

Just before the war began in late February last year, it cost £556 to buy 900l of oil. It then leapt to £758 after the conflict got under way, and peaked the following week at £1,182.

Oil prices in the Province began to gradually decline thereafter and fluctuate up and down, rising again just before Christmas when oil cost a hefty £1 a litre.

In recent weeks they have been heading back down and made a rare dip below £700 for 900l at the end of February, when it cost £659.

They then continued their journey towards the £600 level – more than 40% below peak costs and a third below the price at Christmas – albeit bumping up to £661 on March 9.

Now however they have fallen below £600 and are edging towards more normal prices of 50p a litre, or £450 for 900l.

It typically costs more per litre for smaller purchases, and the latest consumer council data finds that 300l costs £262 and 500l £422, but these figures are also well below recent averages.