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PRESS RELEASES
25 September 2006
Oil Price Fall
The price of home heating oil has fallen back by over 15% in the last month as some certainty returns to the international marketplace. David Blevings, of the Northern Ireland Oil Federation, says: “This is good news for 75% of homeowners in Northern Ireland who use oil. Oil distributors operate in an extremely competitive market and these pressures ensure that price movements on the international market are offered quickly to consumers in order to retain their custom - that is why oil remains the preferred choice of NI homeowners.” “According to the independent home heat monitor, Sutherland, it was cheaper to heat your home with oil rather than Phoenix Natural Gas in May 06 and with these reductions the cost savings over natural gas will further increase.” “While there could well be more fluctuations over the winter we are advising consumers to fill their tanks now prior to the cold weather setting in.”