Menu
21/11/2007
Escalating Heating Costs Hit Most Vulnerable Hardest
Repeated rises in the cost of crude oil on both sides of the Atlantic has been blamed for pushing the price of home heating oil to new levels – and it's hitting the most vulnerable hardest.
Tom Cairns, Director of Policy and Public Affairs with the charity, Age Concern, said the hefty price rises would affect those most in need.
He added: "These increases could significantly impact on some of the most vulnerable older people particularly those on low incomes.
"I am particularly disappointed that we have seen dramatic rises in the cost of oils while the winter fuel allowance has stayed the same," he said.
At present there are 203,000 households living in fuel poverty. This accounts for one in three households (33.3%) and represents a much higher figure than either England (9%) or Scotland (17%).
And with such dramatic rises the number of people in fuel poverty could soar even higher.
The facts are stark indeed and all consumers – irrespective of age - across Northern Ireland are now paying nearly three times more for home heating oil than they were five years ago.
Even since August this year, the price of oil has rocketed by 40% and fuel experts have warned that the high prices are here to stay.
Prices have shot up to over £400 for a 1,000-litre fill, resulting in an annual heating bill in excess of £1,200 for householders who top up three times a year. This represents a tripling of the price five years ago.
In 2002 the average price for a barrel of oil was $22 compared to almost $100 for a barrel today. The result is that 1,000 litres from one of the local suppliers is now costing £430, (an online distributor Valueoils.com was cheaper at £409), with many of the prices going up on a daily basis.
Ironically, five years ago a near panic was setting in after prices reached £159 for 900 litres of oil!
The overall rise is the result of increased demand from countries like China and India.
And with supplies from countries like Iraq being squeezed, high winter fuel prices are here to stay.
Independent oil industry analyst Rod Prowse, of consultancy company Marathon Associates Ltd, said: "High prices are here to stay.
"Rising oil demand, especially in Asia, coupled with little spare capacity on the supply side, is combining to support high oil prices," he said.
Tom Cairns, Director of Policy and Public Affairs with the charity, Age Concern, said the hefty price rises would affect those most in need.
He added: "These increases could significantly impact on some of the most vulnerable older people particularly those on low incomes.
"I am particularly disappointed that we have seen dramatic rises in the cost of oils while the winter fuel allowance has stayed the same," he said.
At present there are 203,000 households living in fuel poverty. This accounts for one in three households (33.3%) and represents a much higher figure than either England (9%) or Scotland (17%).
And with such dramatic rises the number of people in fuel poverty could soar even higher.
The facts are stark indeed and all consumers – irrespective of age - across Northern Ireland are now paying nearly three times more for home heating oil than they were five years ago.
Even since August this year, the price of oil has rocketed by 40% and fuel experts have warned that the high prices are here to stay.
Prices have shot up to over £400 for a 1,000-litre fill, resulting in an annual heating bill in excess of £1,200 for householders who top up three times a year. This represents a tripling of the price five years ago.
In 2002 the average price for a barrel of oil was $22 compared to almost $100 for a barrel today. The result is that 1,000 litres from one of the local suppliers is now costing £430, (an online distributor Valueoils.com was cheaper at £409), with many of the prices going up on a daily basis.
Ironically, five years ago a near panic was setting in after prices reached £159 for 900 litres of oil!
The overall rise is the result of increased demand from countries like China and India.
And with supplies from countries like Iraq being squeezed, high winter fuel prices are here to stay.
Independent oil industry analyst Rod Prowse, of consultancy company Marathon Associates Ltd, said: "High prices are here to stay.
"Rising oil demand, especially in Asia, coupled with little spare capacity on the supply side, is combining to support high oil prices," he said.
Related Northern Ireland News Stories
Click here for the latest headlines.
20 November 2024
£17m To Support Pensioners Affected By Winter Fuel Payment Changes
Communities Minister Gordon Lyons has announced a £17 million fund to support pensioners who have lost eligibility for the Winter Fuel Payment due to recent UK government changes. The one-off £100 payment will be automatically issued to an estimated 250,000 pensioners in around 170,000 households before the end of March 2025.
£17m To Support Pensioners Affected By Winter Fuel Payment Changes
Communities Minister Gordon Lyons has announced a £17 million fund to support pensioners who have lost eligibility for the Winter Fuel Payment due to recent UK government changes. The one-off £100 payment will be automatically issued to an estimated 250,000 pensioners in around 170,000 households before the end of March 2025.
01 July 2022
Energy Price Increases Leave Families Unable To Afford Heating
Energy price increases is going to leave families unable to afford heating, SDLP Communities Spokesperson Mark H Durkan has warned. Mr Durkan made the comment as the latest energy price rise came into effect across NI. It is estimated the price rises could add up to £375 onto the typical annual bill.
Energy Price Increases Leave Families Unable To Afford Heating
Energy price increases is going to leave families unable to afford heating, SDLP Communities Spokesperson Mark H Durkan has warned. Mr Durkan made the comment as the latest energy price rise came into effect across NI. It is estimated the price rises could add up to £375 onto the typical annual bill.
14 March 2022
Oil Retailers Must Honour Agreed Price
Domestic home heating oil retailers and online brokers must honour agreed contracts – this means that customers cannot be charged more if prices increase between ordering and delivery.
Oil Retailers Must Honour Agreed Price
Domestic home heating oil retailers and online brokers must honour agreed contracts – this means that customers cannot be charged more if prices increase between ordering and delivery.
02 September 2022
Home Heating Oil Breaks £1 Per Litre
Home heating oil prices in Northern Ireland have now exceeded £1 per litre, more than double the ten-year average price, and prices have only been higher for one week this decade according to the Consumer Council's weekly heating oil survey.
Home Heating Oil Breaks £1 Per Litre
Home heating oil prices in Northern Ireland have now exceeded £1 per litre, more than double the ten-year average price, and prices have only been higher for one week this decade according to the Consumer Council's weekly heating oil survey.
06 September 2011
Wholesale Market 'Forces Gas Price Rise'
The gas supplier, firmus energy - that has been providing natural gas since 2005 across Northern Ireland - has announced details of its new tariff, which will see domestic prices increase by 28.4% from 1st October.
Wholesale Market 'Forces Gas Price Rise'
The gas supplier, firmus energy - that has been providing natural gas since 2005 across Northern Ireland - has announced details of its new tariff, which will see domestic prices increase by 28.4% from 1st October.
-
Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
