What this winter has in store for Ireland’s energy and fuel prices

Is enough being done by policy makers to change how much it costs to heat our homes, turn on the lights and run our cars?

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More than a third of Irish homes are heated by oil, and they face big price hikes this winter
More than a third of Irish homes are heated by oil, and they face big price hikes this winter

The relentless rise of energy prices is hitting motorists hard. In February, a litre of petrol and diesel were priced at about €1.70; now many motorists are paying as much as 45 cent more for each litre of diesel they pump into their car.

When it comes to the third of Irish households that relies on oil for home heating, the picture is as bleak. In September, the average price of 500 litres of home-heating oil was €590; by last week that same tank cost about €833 to fill.

The cost of energy fuels has risen almost 47.6 per cent year on year compared and the knock-on effect is being felt in every part of the economy.

Conflicts in Iran, Ukraine and Yemen have seen oil and natural gas prices on wholesale markets climbing again, which means much of the price rises are out of the control of individual governments.

But rising prices have made us study our energy bills even closer, leading consumers to wonder exactly what all those extra charges are for and think that surely something could be done to bring costs down.

As November brings darker nights and colder days, Irish Times Consumer Correspondent Conor Pope explains why high energy bills will be with us for some time to come.

Presented by Bernice Harrison. Produced by Suzanne Brennan.

Bernice Harrison

Bernice Harrison

Bernice Harrison is an Irish Times journalist and host of In the News podcast

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