Belfast Telegraph

Northern Ireland motorists cash in as fuel prices keep tumbling into 2015

By Chris Kilpatrick

Northern Ireland motorists have been provided with some New Year cheer after the cost of filling up at the pumps was cut again - with experts predicting more savings in the coming weeks.

Major supermarkets Asda, Sainsbury's and Tesco are all knocking 2p a litre off their petrol and diesel, with the reductions taking effect from today.

The Asda cuts will mean its customers will pay no more than 107.7p a litre for petrol, with diesel at 114.7p a litre.

With world oil prices plunging, this is Asda's 13th cut since the end of September, taking, in total, 19p a litre off petrol and 15p a litre off diesel.

And the sliding prices have seen the cost of home heating oil slashed in recent weeks by fuel companies across Northern Ireland.

Yesterday 500 litres of oil was available in many parts of the province for under £200.

A delivery of 900 litres of heating oil could be bought from £342.

Scott Kennerley, head of transport policy at the Consumer Council, said petrol and diesel prices here were at their lowest in four years, and added that they should fall further.

"Our latest figures show the average price in Northern Ireland was 112.6 pence per litre (ppl) for petrol and 119 ppl for diesel," he said.

"Prices peaked in April 2012 when petrol hit 143.1 ppl and diesel 147.6 ppl.

"Therefore, our figures show that prices have fallen by roughly 30 ppl since their peak or a saving of £15 on a 50 litre fill which is great news for consumers coming into the New Year.

"Our latest figures show the cheapest petrol (108.9 ppl) was in Newtownabbey and the dearest (119.9 ppl) was in Londonderry.

"Even with the fall in prices, motorists could still save by shopping around.

"There was a 5 ppl difference in Belfast between the cheapest and dearest petrol prices and a 6 ppl difference in Derry."

Background

The cost of home heating oil has been slashed in recent weeks by fuel companies across Northern Ireland.

Heating oil has dropped to under £200 (500 litres) in some areas, and just over £340 (900 litres). In February 2013, oil prices peaked at £600 for 900 litres. Experts have predicted further savings in heating oil and vehicle fuel.

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