Heating oil stocks running ‘dangerously low’, warns Northern Ireland trade body

This follows a spike in demand during August as prices dipped slightly from the record highs recorded earlier this year and households moved quickly to stock up for the winter, according to the chief executive of the Northern Ireland Oil Federation — a trade organisation representing dozens of distributors.

The latest prices from the Northern Ireland Consumer Council, published a week ago, show that the average cost of a 900 litre fill of oil cost an average of £928.98. New figures are expected to be published on Thursday.

A survey conducted by the News Letter on Wednesday of prices in the Belfast area found 900 litres of home heating oil retailing for between £945 and £969.

Chief executive David Blevings, speaking to the News Letter, said: “We’re dependent on imports, which come in mostly from Milford Haven but because of the problems with Russian oil it has been coming from all over the world — and I mean all over, from Saudi Arabia, North America, South America, wherever.

“It comes into Belfast terminal and Derry terminal, the two main import terminals.

“It’s the same in any energy sector, with the ban on Russian oil causing huge problems. We’re running around trying to get product frm further afield.

“August wouldn’t be usually a big demand month, but because of the price dip everybody and their granny in Northern Ireland ordered and the stock is now running dangerously low.

“We’re now trying to replenish those stocks, and as a responsible industry we’re telling people that if you do ring up today and order 900 litres your supplier might say sorry, I can only give you 500.”

And in a statement, Mr Blevings said: “Distributors must forecast expected demand months in advance and this unprecedented uplift in August has left us short of product.

“We are assured this is a short-term issue and product is arriving on a weekly basis. We would advise oil users to continue to order as normal but note your distributor may limit your order to make oil available to as many consumers as possible.”

The Oil Federation chief executive added: “The oil industry has asked the Department of Economy since 2016 to look at an emergency storage facility in Northern Ireland to prevent this sort of issue arising but to date this has never been brought to the table for discussion.”