Heating oil prices reached record high in NI
Summary
Heating oil prices in Northern Ireland rose by 92% in March, setting a new record. Prices peaked in early April but have since decreased slightly. Two-thirds of households in Northern Ireland use heating oil, and lower-income users will receive a £100 grant later this year.Key Facts
- Heating oil prices in Northern Ireland increased by 92% in March 2024.
- The previous highest increase was 59% in March 2022 after the Russian invasion of Ukraine.
- About two-thirds of Northern Ireland households use heating oil for their homes.
- Prices peaked on April 8, with 500 litres costing around £627.
- After peaking, prices fell to approximately £530 for 500 litres in the last week.
- Lower-income households that use heating oil will get a £100 grant later in 2024.
- Gas prices in Great Britain have not risen as much, and most GB households use gas heating.
- Petrol and diesel prices in Northern Ireland have decreased slightly in the past week.
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