The price of home heating oil and fuel in Northern Ireland has dropped to its lowest point since 2021, making now an ideal time to purchase, according to the Consumer Council for Northern Ireland (CCNI).
As of the latest data, 500 liters of home heating oil costs £258.78, with petrol priced at 128.7p per liter and diesel at 133.4p per liter. These prices represent a significant decline from the highs reached in 2022. In March of that year, 500 liters of heating oil peaked at £662.86, while petrol hit 189.9p per liter in July, and diesel soared to 197.5p per liter in June.
Raymond Gormley, Head of Energy at CCNI, urged consumers to consider buying oil now, despite the warm weather, given the volatile nature of the market. Nearly 63% of homes in Northern Ireland rely on oil for heating, the highest proportion in the UK.
While prices have dropped, many people still find them high. At a petrol station in Lurgan, County Armagh, some customers expressed frustration at the cost of filling up their vehicles. Tina Beggs, who drives a two-liter diesel car, said it’s “ridiculous” that it costs almost £100 to fill her tank. She works part-time, earning around £1,000 a month, and after paying her mortgage, fuel costs take up a significant portion of her income.
“I’m spending an extra £100 or £150 just on fuel,” she explained. “For someone like me, that’s a good chunk of my wage.”
Michael Breen also noticed price fluctuations. He pointed out that fuel prices vary by as much as 10p per liter between different stations. “It’s always changing. Fuel prices go up in the winter and drop in the summer,” he said.
Gormley emphasized that buying heating oil in bulk is the most cost-effective approach, as smaller orders result in higher per-liter prices. CCNI’s weekly price checker allows consumers to compare prices for different quantities of oil, such as 300, 500, or 900 liters, helping them find the best deals.
For those without the funds to buy oil in bulk, Gormley recommended joining an oil buying club, where communities can pool their resources to purchase oil at a lower cost. The Northern Ireland Oil Federation also offers a pre-payment scheme, while oil fuel stamps, available from local retailers, allow residents to budget and spread the cost of their oil delivery over time.
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