Craic On

Heating Oil Price

The cold weather is setting in and we are approaching the coldest time of the year.

There’s snow on the ground and it is dark and gloomy.

However, there is one piece of good news.

Heating oil prices in Inishowen are tumbling.

I remember paying €850 for 1,000 litres of heating oil a while back.

Slumping Prices

I paid around €640 for 1,000 litres just a few weeks ago.

Last week I checked the prices online and they were in the €620 – €625 price range.

However, I’ve just checked again and they tumbled below the €600 mark.

One company, Swilly Fuels, are selling 1,000 litres of heating oil for €589.

500 litres is €315, so 1,000 litres is the bargain if you can afford it.

Competition

As we know, when prices go up, sellers of it pass on he increase very quickly.

However, when the price of a certain commodity falls, the price of the commodity is usually passed on very slowly to customers.

However, competition appears to be having a big impact on the price of heating oil.

One would expect that it will come down further as the price continues to fall on the international exchanges.

This is great news for Movillians who can normally only afford to put the heat on for just a short time every day.

It’s also a great boost for their pockets.