Northern Ireland oil prices continue to fall to lowest since Ukraine war

According to this week’s figures from the Consumer Council, the average price of 300 litres is now £216.09, with 500 litres costing an average

£339.98 and 900 litres £598.57.

The latest prices represent a drop of £5.54, £7.19 and £12.08 respectively compared to the same time last week.

These are the lowest average prices since the Russian invasion of Ukraine at the end of February last year.

The highest average price for 900 litres oil in the past 12 months was later in March 2022 – shortly after the war started – when householders had to fork out an eye-watering £1,181.

While this week’s prices show a continued 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 in costs across oil companies in Northern Ireland’s local council areas.

The highest average price for 300 litres this week is £222.64 in Armagh City, Banbridge and Craigavon while the lowest average price of £212.32 was found in Lisburn and Castlereagh.

When it comes to 500 litres, residents of Armagh City, Banbridge and Craigavon are paying again paying the highest at £348.05 while the average price in Lisburn and Castlereagh is the lowest at £332.33

The current highest average cost of 900 litres, meanwhile, is in Armagh City, Banbridge and Craigavon at £613.95 while the lowest is again in Lisburn and Castlereagh at £585.85.

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.