Cost of living crisis: Average cost of Northern Ireland home heating oil falls in last seven days

Average prices of home heating oil across Northern Ireland have fallen in the last week, according to the latest data released from the Consumer Council.

he organization’s online home heating oil price checker tool shows the average price of 500L of home heating oil across the province is £ 513.

It means the average price in this category has fallen by £ 149 in the space of a week.

The figures also show the average price of 300L of home heating oil this week is £ 317, a reduction of £ 92 from last week.

Meanwhile the average price of 900L of home heating oil across Northern Ireland stands at £ 899, a reduction of £ 282 from last week.

While the figures show prices have fallen slightly, with the cost of crude oil globally falling to its lowest level for two weeks, the cost of heating homes across Northern Ireland still remains high as the cost of living crisis in the region continues to bite.

Peter McClenaghan, Director of Infrastructure and Sustainability at the Consumer Council, said: “Global wholesale prices have dropped over 20% from a week ago. However, consumers should expect prices to remain high for some time.

“We have been tracking local oil prices charged to consumers on a daily basis and pleasingly there had been some price reductions in the past week.

“Northern Ireland is at the mercy of the global markets because we import nearly all of our heating oil supplies, meaning consumers here are at risk when global prices fluctuate as our local suppliers are unable to influence these prices and the costs are passed on to consumers .

“The Consumer Council will continue to engage with the Northern Ireland Oil Federation to ask that when wholesale prices decrease that this is passed on to consumers as soon as possible.”

On Wednesday, a bill which would potentially allow a Stormont department to unlock money for energy support schemes secured accelerated passage.

Brought forward by the SDLP’s Mark H Durkan, the bill amending the Financial Assistance Act has been forwarded to the Assembly speaker.

Mr Durkan said he hoped it will be tabled next week before the end of the Assembly mandate but may require weekend sittings.

“People and families across Northern Ireland are currently experiencing an unprecedented increase in fuel and energy prices which is making the cost of living unbearable for far too many in our communities,” he said.

“I am delighted that other parties have supported our efforts to address this emergency and following representations to the Executive Office Committee and Communities Committee today, that our bill has been granted accelerated passage.

“The most effective way to deal with the emergency we are facing is the nomination of the First Minister and deputy First Minister. But we cannot stand idly by waiting for something that may never happen while hard-pressed families and households in our communities are forced further into poverty, particularly when the Executive has significant sums of unallocated resource available to it.

“I will use every power and every tool available to me as a legislator to get this bill over the line and get emergency support out to everyone and every household that needs it.”

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