Home heating oil prices have dropped by almost half since the start of the year, following the sharp fall in crude oil prices around the world.
Consumers in Northern Ireland will welcome the news that home heating oil prices are on track to hit a record low, according to the Consumer Council’s weekly survey of home heating oil prices.
Residents are recommended to top up their tanks at home in the coming weeks as prices continue to plummet.
The Consumer Council’s Home Heating Oil survey shows that on April 23 this year, 500 litres cost on average £137, a massive 47% drop from £259 on January 2.
It’s the lowest since 2016 and is 23% cheaper than in 2009 when the survey began. Prices are predicted to drop further to historic lows.
With many households experiencing a drop in income due to the impacts of Covid 19, a reduction in heating oil costs will be welcome news for the 68% of consumers in Northern Ireland that rely on home heating oil to heat their home.
The Consumer Council has a Covid 19 webpage with useful information for home heating oil consumers about safe deliveries, and the benefits of the Customer Charter in place with the Northern Ireland Oil Federation. It also keeps up to date prices to help customers shop around.
For energy advice and prices go to www.consumercouncil.org.uk/coronavirus/energy-advice.
