Fuel prices in Northern Ireland: further reductions since Russian invasion of Ukraine peak

Petrol is now available on a number of forecourts for under £1.40 a litre – having peaked at almost £1.90 last June.

However, prices do vary from town to town with some petrol available in Newtownards this week at 138.7p a litre, compared to the highest recorded price of 149.9p in Ballyclare, Newry and Enniskillen.

On average, the price of petrol has fallen to 143.5p per litre.

Diesel users have experienced a similar steady drop in prices with the average cost of a litre across Northern Ireland now down to 158.7p – compared to 197.5 in June 2022.

That is according to data published each week by the Northern Ireland Consumer Council.

The latest figures also show that home heating oil prices have also fallen.

A delivery of 500 litres is now costing just over £364 on average, while 900 litres on average is £644.34 in Northern Ireland.

The cheapest heating oil is being reported in the Lisburn and Castlereagh council area at £634.86 for 900 litres.

Armagh, Banbridge and Craigavon council area has an average cost more than £19 higher for 900 litres at £654.22.

Newry, Mourne and Down as the next highest average for 900 litres at £653.99.

Just a few weeks ago, at the end of January, the average price for 900 litres was just short of £800, while 500 litres was averaging £454.35.

Within weeks of the Russian invasion on February 24, 2022, the cost of 900 litres of heating oil had risen to £1181.53.

There have been reports in recent weeks that the government is considering scheme compelling petrol stations to share live prices so that consumers can make informed choices on where to purchase.

In recent weeks, RAC fuel spokesperson Simon Williams said: “The Competition and Markets Authority is already investigating the way fuel retailing operates, so we hope its eventual recommendations to the government result in better value at the pumps for drivers.”

Mr Williams said the current system in Northern Ireland, where the prices being charged are only being updated once a week, means “there’s no indication of which forecourts are cheapest” at the relevant time.