Home heating oil prices in Northern Ireland take welcome dip

A fortnight ago the cost of filling up an oil tank dropped to its lowest price in more than two months, with the average price of £780.17 for 900 litres.

The highest average price for the same quantity of oil was in March – shortly after the Ukraine war started – when householders had to fork out an eye-watering £1,181.

However, average prices rose last week by £13.83 for 300 litres, £19.98 for 500 litres and £33.81 for 900 litres.

Householders will be glad to hear that according to the Consumer Council’s weekly price check that the cost has dropped again.

The average cost of 300 litres is now £273.95, while the average price of 500 litres is £442.40 and £784.40 for 900 litres.

While this week’s prices show a welcome downturn, it is still worth shopping around for the best deal as many suppliers will deliver further afield at no extra cost.The Consumer Council figures also show a difference between Northern Ireland’s local council areas.

The highest average price for 300 litres this week is £280.25 in Newry City, Mourne and Down while the lowest average price of £269.13 was found in Mid and East Antrim.

When it comes to 500 litres, residents of Newry city, Mourne and Down are paying £450.54 while the average price in Lisburn and Castlereagh is £438.17.

The highest average cost of 900 litres is currently £794.07 in Newry city, Mourne and Down while the lowest is £776.89 in Lisburn and Castlereagh.

The Consumer Council says that many people find it difficult to budget for large one-off bulk deliveries. Larger orders are a higher one-off cost, but smaller orders cost more per litre. Buyers often have no option but to place these smaller, more expensive orders but joining a local oil buying club is one solution to this problem.