Purchases of home heating oil in Donegal limited due to spike in demand

Home heating oil suppliers in Donegal are experiencing an increase in demand as customers try to stock up ahead of further price increases.
Some suppliers in the country have limited purchases of domestic kerosine to 500 litres to ensure as many customers as possible get what they need. The Russian invasion of Ukraine has caused prices of oil to increase in recent days.

Most suppliers in the county were selling home heating oil at €650 for 500 litres on Monday, although some were charging as much as €680.
A spokesman for one large supplier in the county, who did not wish to be named, said deliveries are being made within two days of orders.
“We have had demand shocks much higher than this. The demand situation is under control,” he said.
“We are restricting people to 500 litres, that is just because we have a situation if we fulfil everyone's order we don’t want to leave any critical operations without oil.”
All markets, including road transport, agriculture and the marine sector, are experiencing an increase in demand.
The situation in Ukraine “is the sole driver of prices at the minute,” he said.

Energy price increase will have serious impact on wider costs, Taoiseach warns

The National Oil Reserve Agency has a strategic reserve of oil in Ireland which will prevent any shortages, he added.
“The strategic reserve that the Government holds is of vital importance. We are not yet at the stage of the strategic reserve having to be tapped. So that reflects on the fact that it is not as urgent or as critical as having to tap the strategic reserve.”

Kevin McPartlan, CEO of Fuels for Ireland, which represents some of the country’s biggest fuel suppliers and importers, said customers are stocking up to get ahead of any further price increases.
The restriction of the size of purchases of home heating oil in Donegal is “about responsible stock management,” he said.
“What we don’t want is to create unnecessary spikes in demand,” he said.
“We have adequate supply in the country. We have adequate supply coming into the country to meet normal buying patterns. While in some cases we are limiting the volumes we supply at the moment, that is to ensure reasonable stock management. Demand is high but we are managing to meet it,” he said.