The rates for heating oil prices in NI (North Ireland) have increased dramatically over the past year.
In 2010 rates jumped by 23% compared to the year before.
Belfast, the capital of Northern Ireland is the most expensive city in for heating oil prices in NI.
Rates range between 400 to 450 pounds per month.
Those are just the extremes of heating rates.
However, there are wide variations in the prices of fuel.
There are two rates for home fuel in the region.
One can purchase heating oil in quantities of 500 and 900 litres.
Picking which quantity is best for you depend on the size of your home.
If you have a small one storey house with a few rooms, 500 litres would be best.
If on the other hand, you have you own a huge house with two or more storeys, you will have no choice but to purchase 900 litres of fuel.
There are eleven companies offering competitive rates for home fuel in the province.
Between them the average cost for 500 litres ranges between 269 Pounds to 282 pounds.
The average for 900 litres hovers between 474 pounds to 488 Pounds.
As one sees, the rates are much uniform for 500 litres than for 900 litres.
In the market for the 500 litre, McGinley Gas and Bangor Fuels have the lowest rates.
Oil Direct and MD Fuels have the most expensive rates.
For the 900 litre market, Nicholl and Deighan Fuelshave the lowest rates heating oil prices.
Speed Fuels and MD Fuels have the most expensive rates for 900 litres.
As these examples make clear, rates are steep.
For people on fixed incomes such as pensioners, the cost of heating the home are fast moving out of reach.
Even those with high incomes will feel the squeeze of paying nearly 500 pounds a month for heating their home.
To compound the problem there seems to be no relief in sight until the Spring.
Many customers want to know what justifies the high rates.
The heating companies say that their costs have risen and they are simply passing them on the customer.
Many people want to government to investigate or make a direct intervention.
However, since the Thatcher revolution, the free market reigns and active government intervention is rare.
Many local councilors are inundated with complaints from their constituents demanding action.
Sadly, this falls outside their jurisdiction.
Heating oil prices in NI have the potential to become a bitter point of contention.
This the discontent will become sharper if the province sees more winters such as this year's.
If prices increase, both the heating oil companies and governments will face the wrath of the population.
previous post