The industry continues to serve local customers as quickly and diligently as possible.
We note and welcome the Competition and Consumer Protection Commission’s (CCPC) main conclusion that the retail price increases in March 2026 were lower than the corresponding wholesale price changes. This confirms that the market is functioning normally and that suppliers have not imposed disproportionate retail price increases.
The main market driver of heating oil prices in Ireland is the wholesale price of jet fuel, which is traded on the European market. This is because jet fuel and heating oil are both kerosene based.
The wholesale price of jet fuel has more than doubled. This is partly due to Europe’s dependency on imports of this fuel from countries in the Middle East. In 2025, at least 40% of Europe’s jet fuel supply came via the Strait of Hormuz.
-Ends-
9th April 2026
