Home oil prices in Northern Ireland rise slightly, but remain far below recent averages
The cost of home heating oil in Northern Ireland has risen slightly over the last week.
According to the NI Consumer Council oil price checker, the cost of 900 litres of oil was £585 yesterday, up from a recent low of £574 the week before.
However, the price in the Province remains below £600 which it fell below on March 23 for the first time after the Russian invasion of Ukraine last year.
On the day tanks rolled across the border, February 24, 2022, 900 litres of oil in NI cost £556 and then jumped to £758 the next week. The price of 900 litres then soared to £1,181, and has fluctuated up and down since then, averaging around £800.
The latest data means that prices are are still now less than half their post invasion peak. And only weeks ago, before Christmas, oil cost more than £1 a litre.
The NI Consumer Council found that on December 22 the price of 300 litres was £316, while the price of 500l was £501. The price of 900l then was slightly less than £1 a litre, coming in at £878. This was because larger purchases tend to cost less per litre.
But now even smaller purchases cost much less than £1 a litre, with 300 litres costing an average £213 and 500l costing an average £334.
Meanwhile, diesel and petrol prices in Northern Ireland are also well down on recent levels.– more than 20p a litre.
Diesel currently averages 151.7p a litre compared to 186.2p in October, while petrol is now 142.9p, down from 163.2p in October.