THE average price of home heating oil in the north has jumped by 65 per cent since Russia invaded Ukraine on February 24, research by The Irish News shows.
It means at current prices, the average oil-fired household in Northern Ireland could face a heating bill of almost £3,000 in 2022, pulling an increasing number of families into the fuel poverty bracket.
Wholesale energy costs and the price of crude oil have surged dramatically on the back of the escalating crisis in Ukraine, with little sign of it slowing down.
Brent crude crept up again on Sunday evening, reaching around $118 per barrel.
Consumer bodies have forecast that prices will continue to rise in the coming months by as much as 30 per cent.
The price of home heating oil, which is used by around two-thirds of households in the north, has already jumped another 21 per cent since the Consumer Council published its own figures on Thursday morning.
A new survey by The Irish News of more than 40 suppliers across Northern Ireland on Sunday confirmed the average price per litre of kerosene is now £1.05, around 65 per cent higher than the Consumer Council’s February 24 survey, the same day Russia commenced its invasion of Ukraine.
The average price for 300 litres on Sunday was £329.61, £528.60 for 500 litres and £937.24 for 900 litres.
The price of home heating oil is now double pre-pandemic levels from January 2020.
Constraints on supply and caps of 300 litres introduced by some suppliers mean many customers could be faced with even higher rates.
The average price per litre for 300 litres on Sunday was £1.10, with some suppliers quoting up to £1.18 per litre for kerosene.
The Consumer Council estimates the average family of four typically consumes around 2,800 litres of home heating oil in a year.
At yesterday’s prices, that would equate to between £2,800 and £3,000 per year, depending on the volume of the orders.
The surging costs have raised the prospect of many more families being pulled into the official fuel poverty category, particularly on the back of the recent rises in gas and electricity tariffs throughout the winter.
According to the charity National Energy Action (NEA), a household spending more than 10 per cent of its income on energy in Northern Ireland can be considered in fuel poverty.
Pat Austin from the NEA told the BBC yesterday the massive surge in home heating oil prices could mean more than 40 per cent of the population qualifying as being in fuel poverty.
The organisation has backed calls for the establishment of a Northern Ireland fuel poverty taskforce.
Meanwhile a Stormont scheme offering struggling households £200 toward their energy costs will open for applications on Thursday.
Communities Minister Deirdre Hargey initially said around 280,000 people would be eligible for the £55 million scheme.
Applicants must have been receipt of one or more of five qualifying benefits in the week beginning December 13 to apply.
But with many working households being pulled into the fuel poverty bracket, there have been calls for Stormont to extend the scheme.
Efforts to respond have been complicated by the DUP’s Executive walk-out and the ongoing fall-out over Stormont’s proposed three-year budget.
