Prices for home heating oil in Northern Ireland bumped along at a low level until the end of July 2023 when they started moving up decisively. This week 900 litres reached £700 and 500 litres reached £400.
Mr Blevings, NIOF said: ‘Unfortunately we are seeing a further increase in oil prices due to Russia halting exports of diesel and petrol in what they say is an attempt to ‘stabilise’ oil prices. Oil prices have increased steadily since June and started to fall last week until Russia took this action on exports. It’s not good news for consumers as 900 litres broached the £700 mark today.
“We don’t see prices falling in the short term and would encourage consumers to speak with a NIOF distributor member and if needed, work out a payment arrangement that works for both parties.”