Road fuel prices continue to rise across Northern Ireland as crude oil hits 11-month high
THE price of diesel has increased for the 11th week running across the north, as crude oil reached its highest point in 11 months.
The Consumer Council’s weekly road fuel survey put the average price of diesel at £1.574 per litre.
The 1.7p increase this week means the average price of diesel has now increased by around 20p per litre since the middle of June.
Brent Crude Oil, an international benchmark for fuel prices, peaked at $95 per barrel on Thursday, the highest price since October 2022.
The surge is linked to the move by Saudi Arabia and Russia to cut oil production.
Petrol prices are also on the rising, increasing by 0.5p this week to £1.518, the highest price since December 2022.
Despite the increases, diesel in the north is still generally cheaper than the Republic, where temporary reductions on fuel excise duty have been reintroduced by the Irish Government.
The final increase is due on October 31, but there is speculation in the Republic that the upcoming October 11 Budget will include some measure to curb the rising prices.
Meanwhile, the average price of 500 litres of home heating oil has passed £400 for the first time since February, a separate survey from the Consumer Council showed on Thursday.
The watchdog found the average cost of a 500 litre order of kerosene was £401 this week, with 900 litres reaching £706.34.
The survey put the average 300 litre order at £253.47.