Ireland Records Sharp Rise in Home Heating Oil Prices…

Dublin: Ireland has experienced the largest weekly increase in home heating oil prices in the EU, according to recent data. Prices rose from 96 cent per litre on February 23 to €1.23 by March 2, marking a 27.3% increase.

Kevin McPartlin, CEO of Fuels for Ireland, said the figures should be viewed in context. He explained that Ireland mainly uses kerosene for home heating, while most EU countries use cheaper diesel-based heating fuels. Around 30% of kerosene supplies pass through the Strait of Hormuz, making prices more sensitive to disruptions linked to the Middle East conflict.

He also noted that Irish consumers pay carbon tax and additional government levies on heating oil, unlike most other EU states.

Meanwhile, Jennifer Carroll MacNeill said the government will avoid making rushed decisions on energy costs until there is clearer information on how long the Middle East crisis may last. She added that authorities will continue to monitor the situation and provide targeted cost-of-living support where necessary.

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