The price of home heating oil has risen again after a period of respite.
The report indicates that the price of home heating oil has risen again after a period of respite.
It further notes that consumer Council for Northern Ireland (CCNI) figures show that in just three weeks the average cost of 500 litres of home heating oil has jumped from £346.59 to £445.37 – an increase of £98.78 (29%).
The organisation’s Raymond Gormley stated the price rise was in response to the recent escalation in fighting between the US and Iran. On Sunday President Donald Trump paused attacks on Iran for the second night in a row.
About two thirds of Northern Ireland households use home heating oil, by far the highest of any UK region.
Home heating oil prices peaked at £612.37 for 500 litres on average in April and had dropped to a low of £346.59 for the same amount earlier this month.
The most recent CCNI figures, published on 23 July, show 300 litres of home heating oil costing an average £276.23 – up from £216.44 on 2 July.
A delivery of 900 litres had an average cost of £789.07 – an increase of £173.84 since 2 July.
Speaking to BBC News NI in Belfast city centre, Agnes Jackson stated she is concerned about the general cost of living.
“I really do fear for wee families,” she said.
Agnes stated she switched from oil to gas in recent years as it was cheaper but “now it’s on par”.
She added that before making the switch, she had to be decisive about the household spending.
“For oil it wasn’t as if you could go and buy it like gas at £40 – it was hundreds supplying oil,” stated Agnes.
Having bought oil before May when prices were high, Rosie and Patrick McGivern say they are concerned about the increasing price.
Patrick added the colder winter months is going to be the “main problem”.
