Homes feel chill as heating oil bills rocket 40pc By JOHN MADDOCK HOME heating oil users who have seen their bills soar by a whopping 40pc during the past 12 months - and 60pc over the last two years - are bracing themselves for another rise this winter.

Even though oil fell on international markets yesterday, it was far from clear if the lower prices would last long enough to have an effect on domestic bills.

Oil industry sources were cautious last night about predicting how prices might go in the coming months citing uncertainty about how trends outside this country's control might affect prices in the immediate future.

Chief among the reasons for the unsure forecasts are the changing value of the euro against the US dollar, in which international oil prices are marked; and the decision of President Bill Clinton to release big stocks of US fuel reserves to ensure heating oil supplies did not soar in price.

While there is a widespread concern that there will be further rises, a spokesman for one major distributor said the international scene would have a very significant impact on Irish prices.

But irrespective of how home heating oil price trends go over the winter months, there is no way the consumer can even remotely hope to claw back the increases which have take place over the past couple of years.

Figures compiled by the Central Statistics Office show that in the 12 months from August 1999 to August 2000 the price of home heating oil went up by 39.6pc and that in the 24 months from August 1998 to August 2000 there was a rise of 61pc.

Oil retailers were quoting prices of around #400 for a typical 1,000 litre fill yesterday with a higher per litre price for lesser volumes.

The cost of a 1,000-litre delivery varied between #398 and #409 while the price of a 500-litre quantity ranged from #200 up to #218.

The recent rises in home heating prices have been overshadowed by the protests by the national and international road transport industry and the fishing and other sectors against diesel costs and by the public's anger over mounting petrol charges.

Heating oil is used in about 30pc of this country's homes, while solid fuel accounts for central heating in about a quarter of domestic residences. Gas and electricity also have significant slices of the home heating market.

Many households switched out of oil central heating in the 1970s and 1980s and a continuing surge in home heating oil prices could now see a renewal of that trend.

http://www.independent.ie/2000/269/d03a.shtml

-- Martin Thompson (mthom1927@aol.com), September 26, 2000