A purchase of 300 litres of oil now costs just over £192 on average, down around £1 compared to the price last week.
Northern Ireland has seen some frosty days over the last seven days – however, the consumer watchdog’s home heating oil tracker shows the fuel’s average price has fallen across the different categories tracked.
Last week saw the prices of heating oil jump up as the cold snap at the beginning of January took effect.
On Thursday, however, the average cost of a purchase of 300 litres of home heating oil was £192.13, down from £193.54 last week.
A buy of 500 litres is also cheaper this week, now costing £294.67 as compared to £296.64 seven days ago.
The biggest fall is seen for buys of 900 litres of oil, which sit at an average price of £517.54, more than £2 cheaper than last week when it was £519.63 on average.
Prices still remain higher than they were in the last week of December, but are lower than the recent peak at the end of November.
Costs also vary by council area, with the Consumer Council’s price tracker showing peaks and troughs of price in different parts of NI.
For example, Derry City and Strabane customers are getting better deals on 300 litres of oil, saving £3.64 compared to the average in NI.
The price of home heating oil is falling in Northern Ireland
News Catch Up – Tuesday 13 January
Home heating oil users in the Fermanagh and Omagh area are spending less on 500 litre buys, saving £1.84 on the average price.
And Armagh City, Banbridge and Craigavon is currently the most cost-effective area for 900 litre fill-ups, with buyers saving £2.46 compared to the average.
By contrast, Newry Mourne and Down buyers are seeing higher prices for 300 litres, paying £3.30 more than the average customer.
Lisburn and Castlereagh has the heaviest costs for 500 litres, where people are set back £1.30 more than the average NI buyer.
Ards and North Down is the costliest local government area for people buying 900 litres of oil with prices averaging £1.81 more than the NI-wide figure.
When looking for the best deal on home heating oil, the Consumer Council recommends customers try to shop around different suppliers and to order in bulk.
They also remind buyers that prices go up and down daily, with costs impacted by global events and international supply chains.
Petrol and diesel prices have fallen. Photo: Getty
Meanwhile, the average cost of vehicle fuels dropped in Northern Ireland last week, with the Consumer Council showing both petrol and diesel falling in price.
Petrol now sits at an NI-average of 125.7p per litre, a drop from 126.6p on January 8, while diesel has fallen to 133.2p from the price of 134.3p per litre.
The best petrol price was recorded in Carrickfergus, were motorists were saving 3.1p per litre on their top-ups, while diesel was cheapest in Downpatrick and Omagh, where it cost 3.3p less per litre.
Petrol was most expensive in Antrim, costing 3.2p per litre more, and diesel in Strabane, where it sat at 2.7p per litre more.