Iran war: Northern Ireland sees further huge surge in cost of home heating oil - well over 80% in five days
The cost of home heating oil for Northern Irish consumers has now surpassed £1 per litre, a survey of oil prices has today revealed.
One supplier was quoting close to £1,000 for 900 litres tonight – about 87% above the regional average just five days earlier.
According to the Consumer Council, which regularly reports on the cost of home heating oil, the average prices in Northern Ireland as of last Thursday (February 26) were as follows:
• 300 litres: £202.12
• 500 litres: £307.38
• 900 litres: £536.72
The firm Cheapest Oil Ltd, based in south Belfast, runs a website comparing daily prices across the province.
It showed rising prices as the day went on today.
The website was carrying a “high demand alert” this afternoon, stating: “Due to an exceptional surge in orders, many suppliers have either removed pricing or significantly increased their prices.
“If you don’t need heating oil right now, we recommend waiting until demand settles.
“Prices will hopefully improve once the current backlog clears.”
At time of writing, the website was quoting the following prices from suppliers across the six counties of Northern Ireland.
One supplier in north Co Down:
• 300 litres: £350
• 500 litres: £565
• 900 litres: £999
A supplier in mid Co Antrim:
• 300 litres: £345
• 500 litres: £535
• 900 litres: £935
A supplier in north Co Armagh:
• 300 litres: £315
• 500 litres: £505
• 900 litres: £850
A supplier in south Co Tyrone:
• 300 litres: £326.38
• 500 litres: £510.55
• 900 litres: £894.64
A supplier in west Co Fermanagh:
• 300 litres: £350
• 500 litres: £512
• 900 litres: £900
And a supplier in Londonderry city:
• 300 litres: £325
• 500 litres: £523
• 900 litres: £924
Though the home heating price surge is steep, it is not as high as the spike seen in February 2022, caused by the Russian invasion of Ukraine.
At that time, the average price for 500 litres in NI surpassed £662, and over £1,181 for 900 litres.