Big drop in price of home heating oil, cost of petrol and diesel also falls - £100 payment blasted as ‘woefully inadequate’

The price of home heating oil has fallen considerably in the past week though it still remains higher than it had been at the beginning of last month.

Prices rocketed after the outbreak of war in Ukraine in March, jumping from £555.72 for 900 litres to £1181.53 in less than two weeks.

Since then prices have fluctuated at around the £800 mark, but after a surge to £954 two weeks ago, this week the Consumer Council record the average cost of 900 litres at £876.49.

It was £399.58 for the same period last year.

The price of home heating oil has rocketed since the Russian invasion of Ukraine

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The cheapest average price is £868.40 in Lisburn and Castlereagh while the dearest is £890.51 in the Causeway Coast and Glens council area.

Petrol and diesel prices have also seen a fall in the past week.

The average cost of a litre of petrol in Northern Ireland stands at 161.6p, down from 163.5p.

A litre of diesel costs on average 177.4p, down from 178.3p last week.

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This time last year petrol would have cost 132.6p and diesel 134.1p.

The cheapest average price per litre of petrol is 154.9p in Armagh, the dearest is 167.9p in Banbridge.

The Consumer Council found the average cost of diesel to be cheapest in Newtownabbey (172.9p) and dearest in Magherafelt (180.2p).

Since then prices have fluctuated at around the £800 mark, but after a surge to £954 two weeks ago, this week the Consumer Council record the average cost of 900 litres at £876.49. It was £399.58 for the same period last year.

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The average cost of a litre of petrol in Northern Ireland stands at 161.6p, down from 163.5p, while a litre of diesel costs on average 177.4p, down from 178.3p last week.

It was announced on Wednesday that an energy price cap would be introduced for homes in Northern Ireland from November, while home heating oil customers are to get a one-off payment of £100.

Sinn Féín MLA Caoimhe Archibald has described the £100 payment to households relying on home heating oil as ‘woefully inadequate’.

The party’s economy spokesperson said: “Workers, families and businesses here are struggling with rising energy costs and a cost-of-living emergency.

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“The latest announcements of support from the British Government once again come with a complete lack of detail and the DUP’s cruel refusal to go back to work means that people will have to wait longer to receive this support.

“The announcement of a £100 payment to households that rely on home heating oil is woefully inadequate.

“At current prices that’s not even 100 litres of oil, it is nowhere near enough and needs to be looked at again.

“The reality is, the easiest way of getting this money out to people is forming an Executive today, getting ministers around the table and working together to get workers, families and businesses the support they need.”