Cost of home heating oil in Sligo rises by 41% within days of war breaking out in the Middle East

By Philip Rooney, The Sligo Champion

Despite Taoiseach Micheal Martin’s comments yesterday in relation to increases in the price of oil in the wake of war breaking out in the middle east, prices have risen dramatically over the past few days with home heating rising in Co Sligo by an average of 41% since last Saturday.

Figures on price comparison website oilprices.ie reveal the extent of the price increases in recent days. On Saturday last, February 28 the average price for 500 litres of home heating oil was €493.80. As of Wednesday, March 4 the average price for 500 litres of home heating oil in Co Sligo stood at €696.86, an increase of 41%.

With reports emerging yesterday of a dramatic increase in prices Mr Martin said, “There is no excuse for prices going up at the pump yesterday or indeed anywhere as our oil is coming from the North Sea. We don’t want anyone taking unfair advantage of consumers and people because of the conflict in the Middle East.

“Given the fact that people have an adequacy of supplies right now and given that a lot of our oil is coming from the North Sea, which comes from Norway, there shouldn’t be these kind of increases that people have been commenting on yesterday,” he said.

That message was reiterated by Cllr Donal Gilroy who advised people not to panic and not to buy more than they need at the current time.

"I hope companies don’t price gouge, every business wants to buy cheap and sell dear but people should be cognisant of the needs and difficulties that a lot of families have at the moment.

"I would advise people not to panic. If you need to buy oil now buy a small amount that will keep you going until the weather picks up in the next month or two. These things generally do stabilise after a while. I know one oil company has already brought in a limit of 500 litres per customer because everybody has gone mad to buy thinking there will be a shortage later on.

"We hope that won’t happen but I think people shouldn’t buy anymore than they would normally buy. Don’t be stockpiling for next winter and let’s get everybody through the spring and into the warmer days of April, May and June ad hopefully people will act responsibly.”

Article Funded by the Local Democracry Reporting Scheme.