Home heating oil prices rose by 58.6 per cent in September when compared with the same month last year, new figures from the Central Statistics Office (CSO) released on Thursday show.
An estimated 700,000 homes across the Republic use this oil as their primary source of heating their homes.
News of the increase comes as householders prepare for the coldest months of the year, when the need for home heating is at its greatest.
Home heating oil prices rose by 7.2 per cent from August to September alone, the CSO noted.
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Motorists also continued to deal with sharp price increases on forecourts, according to CSO.
Petrol prices were 14 per cent higher in September than a year earlier, while diesel rose by 22 per cent. This was against a backdrop of a renewal in air strikes by the US on Iran and the absence of a deal that would fully reopen the Strait of Hormuz and ease trade blockages.
Diesel cost €2.06 a litre on average in the Republic last month while petrol cost €1.96 a litre.
The CSO does not publish national average prices for home heating oil.
“In the month of September we saw significant price movements for fuel and home heating oil,” Anthony Dawson, a statistician in the CSO’s prices division acknowledged.
The Government this week increased the social welfare fuel allowance by €5 to €43 a-week in Budget 2026.
It also cut carbon taxes levied on home heating oil to €48.50 a-tonne for the current Government’s remaining term in office.
