Kerosene price rises ‘not one bit’ connected to budget - distributors
- Róisín McManus -
Recent increases in the price of home heating oil are being caused by continued shifts in the global market amid ongoing tensions in the Middle East and the war on Ukraine, according to local oil distributors.
Analysis completed by cheapestoil.ie, Ireland’s first independent, commission-free home heating oil price comparison service, shows that the average price for 500 litres of home heating oil in Cavan has risen from €808.87 last Tuesday (October 6) to €842.92 on Monday (October 12) - slightly higher than the national average of €838.87. In Monaghan, the price for the same volume of oil has increased from €808.49 to €839.08 in that timeframe.
Prices have jumped since last Tuesday’s announcement of Budget 2027, when the reduced carbon tax on home heating oil of €48.50 per tonne of carbon dioxide was put in place for the lifetime of the current government. The cut is expected to reduce the cost of a 1,000 litre fill by around €43. The weekly fuel allowance was also increased to €43 from January 1.
The Anglo-Celt contacted all of the oil distributors that are native to Cavan and Monaghan featured on cheapestoil.ie and two were available for comment.
Kieran Duffy from Duffy Oils in Castleblayney told the Celt that price increases are dependent on changes in the world market and are “not one bit” impacted by the announcement of fuel measures in the budget, which were a “small help” to people but “nowhere near” what is needed.
He said that the price of a 1,000 litre fill jumped by €110 overnight last Friday, and that carbon tax should be removed as farmers are being “slaughtered” with the rate on agricultural diesel.
Going into the winter months, he said that people are “without doubt worried” about costs, with many opting to purchase in smaller amounts because the funds are “not available.”
A spokesperson from Gibney Oil in Oldcastle echoed this sentiment, citing the recent Houthi attack on Riyadh airport as one of many “factors going on” in the world that are impacting the cost of oil, which people have been “really struggling” with.