Further significant drop in the price of petrol, diesel and home heating oil

The cost of petrol has fallen by almost seven pence in the space of a week, new figures from the Consumer Council have revealed.

The average price of a litre of petrol is now 175.5p in Northern Ireland, down from 182.3p this time last week.

It is still up more than 40p on the cost of last year, but the good news for motorists is a downward trend has been in evidence since the end of June when rising prices, triggered by the war in Ukraine which began in February, peaked at 189.9p.

Diesel has also fallen in price over the past seven days though the decrease is less than that of petrol – falling by just over four pence from 188.3p to 184.6p.

Petrol prices are falling steadily

Like petrol, diesel prices appear to have peaked at the end of June when a litre cost 197.5p.

The Consumer Council survey found that the cheapest petrol on average in the Province was in Magherafelt at 169.6p, closely followed by Newry at 169.9p.

The dearest average cost for petrol was in Ballycastle (180.9p) and Newcastle (179.9p).

The cheapest diesel on average was in Strabane at 178.8p, Enniskillen at 179.3p and Omagh at 179.7p.

Conversely those buying diesel in Limavady or Newtownabbey can expect to pay 188.9p.

The Consumer Council said that the prices are indicative only and are based on a limited sample.

“They are not based on a survey of every petrol station across Northern Ireland,” said the organisation.

In the longer terms the Consumer Council have figures going back more than 40 years which show how the price of petrol has risen.

For example in 1992 a litre cost 47.62p, by 2002 it had risen to 80p per litre and by 2012 it was 136p per litre.

Meanwhile the cost of home heating oil, like fuel, has also gone down over the past seven days.

The average cost of 900 litres has fallen to £760.16.

The previous week it had been £773.48.

The Consumer Council found the cheapest home heating oil to be in the Lisburn and Castlereagh district at £737.05.

The dearest average for 900 litres was in the Armagh, Banbridge and Craigavon council area at £777.46.

Every week the Consumer Council surveys suppliers across Northern Ireland to benchmark prices on the cost of home heating oil.

“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,” said the organisation.