Business

Road fuel and heating oil prices rise across the north

Wholesale price of crude oil remains lower in second half of 2024

EMBARGEOD TO 0001 WEDNESDAY JUNE 5 File photo dated 01/09/21 of an E10 petrol pump by a Diesel pump at a Asda Petrol Station in Aintree, Liverpool. According to new analysis from the RAC, Asda has become the UK’s most expensive supermarket fuel retailer, with rival companies Tesco, Morrisons and Sainsbury’s selling a litre of petrol for an average of 2.1p less than Asda at the end of May. Issue date: Wednesday June 5, 2024.
The average price of petrol and diesel has increased across Northern Ireland, according to the latest Consumer Council survey. (Peter Byrne/PA)

Fuel prices are on the rise in Northern Ireland this week, with the average cost of diesel, heating oil and petrol all increasing in the past week.

The latest Consumer Council analysis put the average price of diesel at 135.2p per litre, up from 134.5p last week.

It’s the first time that the average price of diesel has risen above £1.35 per litre at the pumps since mid-September.

Petrol prices increased marginally over the week to 130.6p per litre, but the price of petrol has remained largely stable over the past two months.

Meanwhile, home heating oil prices increased for the second consecutive week.



The average order of 500 litres increased to £294.16, according to the latest Consumer Council survey, with the average 900 litre order rising from £503.87 to £512.59.

Despite the recent cold snap, kerosene is still cheaper than during the summer months in Northern Ireland.

That’s largely down to the falling price of crude oil on the wholesale market.

Brent crude oil, which breach $90 per barrel in April, and remained elevated throughout July, was priced just below €73 per barrel on Thursday morning.

The wholesale price of oil has generally been on a downward trend since July.