Home heating oil costs start to rise - Prices hit peak of £214 for 900 litres
NORTHERN Ireland home owners topping up on heating oil are forking out extra after the latest price hikes.
Retailers across the province have been forced to increase their prices as concerns mount over war against Iraq.
In addition, the oil workers strike in Venezuela, which aims to force the country's beleaguered President Hugo Chavez to step down or agree to early elections, has led to production shortages.
A snap survey carried out by the Belfast Telegraph revealed that the price of 900 litres of home heating oil varied from £204 to £214 across the province.
That is a sharp rise since last November when householders could have bought their oil for as little as £165.
However, costs have still not peaked to post September 11 heights when consumers had to pay around £230 for a fill.
Yesterday some of the cheapest prices included Gillen Fuel in Londonderry offering 900 litres for £205 and Stanley Gordon and Sons in Lisburn selling at £204.
Finlay Fuels in Carrickfergus quoted a cash price of £210. Kane Fuels in Bangor offered £212.63, the same as Eno Oils in Belfast.
Connors Fuel in Glengormley gave a price of £214.80 but offered to try and match the price offered by rivals.
David Meekin, of Meekin Oil based in Templepatrick, has priced 900 litres at £205.
Mr Meekin said: "Prices have gone up considerably in the last month because of the Venezuelan strike and uncertainty over what may happen in the Middle East. Crude oil is probably at its highest for two years.
"It is almost impossible to predict what will happen. It depends on what occurs over Iraq. If hostilities erupt we expect prices will become very high for a short period and then drop back to what they were.
"We tend to think the cost of oil is very high because it has been so low for so long."
David Blevings, of the NI Oil Federation, said: "There is no doubt that because of a number of international factors prices are under pressure as companies move to secure supplies for their customers in the oil markets."
He said: "However, experience has always been that when normality is restored prices also return to their usual level and it is worth remembering that over the distance oil has continually been the cheapest home heating."