Prices are pushing past £1 per litre in parts of Ireland and the UK, putting pressure on households heading into autumn.
By MyOil Newsroom ·
Summary
Heating oil prices have risen sharply, with the Belfast Telegraph reporting costs passing £1 per litre as crude oil tops $105 a barrel. For oil-heated homes, this means a typical fill could cost significantly more than last season, making it worth reviewing your usage and budget now before demand rises further in winter.
Heating oil costs are rising at a pace that will concern anyone relying on a tank to keep their home warm this winter. The Belfast Telegraph reports that home heating oil has passed £1 per litre in Northern Ireland, with crude oil trading above $105 a barrel as a key driver of the increase. Newsletter.co.uk adds that bulk-bought kerosene is back up to almost £1 per litre, a level not seen for some time, as fuel costs continue to climb across the region.
For context, oil-heated homes in Ireland and the UK have faced significant price swings in recent years. According to martincid.com, heating oil costs have doubled in real terms for many rural households, placing a disproportionate burden on those who have no connection to the gas grid and no realistic alternative to oil for heating.
The BBC reports that a £100 home heating oil support scheme has opened, aimed at helping households manage rising fuel costs. While any financial relief is welcome, £100 goes considerably less far when prices are at or above £1 per litre. A typical 500-litre fill, for example, would now cost in the region of £500 or more at current rates, so the scheme offers partial relief rather than a full solution.
With oil prices high, tank security is worth keeping in mind. The BBC has reported on a household targeted by heating oil theft, with the family urging others to be aware of the risk. If your tank is in a less visible spot on your property, it may be worth checking it more regularly and considering a lockable fill point if you do not already have one.
If you heat your home with oil, now is a reasonable time to assess how much you have in your tank and think about whether to buy before prices rise further or demand peaks. Ordering earlier in autumn, when competition among suppliers tends to be stronger and delivery slots more flexible, can sometimes work in your favour.
As always, if you notice any issues with your boiler or smell oil around your tank or system, contact a qualified OFTEC-registered technician rather than investigating yourself.
You can check when you might run out based on your current level or set an alert to notify you if prices drop in your area, so you are not caught out as the colder months approach.
Sources
We write our own take and link the original reporting. Figures are as reported by the sources above.
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