Northern Ireland home heating oil prices lowest since start of Iran war

It comes as the US and Iran sign an initial peace deal aiming to end the war.

Home heating oil prices in Northern Ireland are at their lowest since the start of the Iran war four months ago, new figures show.

The Consumer Council’s Home Heating Oil Price Checker, which is updated each Thursday, shows the average price for 300 litres of home heating oil is currently £238.30. This has decreased from £255.80 last week, and an average of £382.97 at the beginning of April.

The average cost of 500 litres of heating oil is currently £380.96, down from a high of £612.37 on April 9. Currently, 900 litres is costing on average £677.16, down from a high of £1,088.71 two months ago.

Across Northern Ireland, average prices for home heating oil vary depending on location. The Mid & East Antrim area is currently the cheapest spot to purchase 300 litres of oil, at an average of £236.01, £2.29 below average.

Ards & North Down is the cheapest location to buy both 500 and 900 litres at the minute, at £374.97, £5.99 below average for the former, and £666.50, £10.66 below average for the latter.

Armagh, Banbridge & Craigavon is the most expensive area to buy 300 litres this week, £3.19 above average at £241.49. For 500 litres, Newry, Mourne & Down has the most expensive price at £389.72, £8.76 above the regional average.

Derry City & Strabane is the most expensive area to purchase 900 litres of heating oil this week, with prices £14.99 above average at £692.15.

The lower home heating oil prices in Northern Ireland come as the presidents of the US and Iran sign an initial peace deal aiming to end the war.

The agreement includes reopening the Strait of Hormuz, a $300bn (£224bn) plan for Iran’s “reconstruction”, and the US terminating “all types of sanctions” on Iran.

However, the issue of Iran’s nuclear programme, the main reason stated by the US for the conflict, is still to be negotiated over a 60 day period.

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