The average cost of home heating oil across the north has fallen below £400 for a 900 litre fill for the first time in four years as global oil markets continue to move lower.
In real terms it’s a 33 % drop in prices since oil peaked at £600 for 900 litres in February 2013.
Councillor Colly Kelly said
“The issue of fuel poverty is one that has been persistent for the past number of years and has been exacerbated by the increasing cost of living.
At this time of year fuel poverty and in particular energy costs are always high on the agenda.
Many families across this city continue to find it very hard to get the money together to fill their oil tank and on many occasions it’s that stark people have to make the decision whether to eat to heat their homes.
The news that oil prices are the lowest in four years and are down an average of £200 per 900 litres has to be welcomed.
Whilst this will not solve the ever present problem of fuel poverty the reduced price will hopefully go some way to ease the pressure on many households particularly over the Christmas and New Year period.