The average price of 500 litres of home heating oil in Northern Ireland increased 80% in one week, reaching £555.59 on Thursday from £307.38 the previous week. Prices for other quantities also rose sharply, with 900 litres up 75% to £948.41 from £536.72, and 300 litres up 71% to £347.19 from £202.12.

Prices vary by location. In the Newry City, Mourne and Down area, 300 litres costs £358, which is £10.81 above the regional average. Derry City and Strabane offers 300 litres at £333.99, £13.20 below average.

Fermanagh and Omagh has the highest prices for 500 litres at £569.25, £13.66 above average, and for 900 litres at £972.05, £23.64 above average. Armagh City, Banbridge and Craigavon provides the lowest price for 900 litres at £936, £12.41 below average. Derry City and Strabane sells 500 litres for £537.30, £18.29 below average.

Raymond Gormley, Head of Energy Policy at the Consumer Council, stated that Northern Ireland imports all its home heating oil, leaving consumers exposed to global market volatility and factors such as geopolitical tensions.

The Consumer Council noted that crude oil prices are rising and unpredictable in the short term due to ongoing conflict.

An independent price comparison service reported that numerous suppliers in Northern Ireland have stopped providing quotes, removed prices from websites, or listed high placeholder prices amid supply uncertainties.

The Consumer Council recommends comparing prices from multiple suppliers using its weekly checker, joining buying groups like the NI Housing Executive's free oil savings network, using pre-payment schemes via PayPoint, purchasing oil stamps from councils or credit unions, and buying in bulk for lower per-litre costs.