Price of home heating oil hits highest level since 1996 amid war in Iran

CSO said home heating oil prices were up by over 63% compared to last year

Hauliers outside Whitegate Oil Refinery, Picture Noel Sweeney

The price of home heating oil has risen by more than 67% in the last month, marking the largest-ever monthly increase recorded by the Central Statistics Office (CSO).

The rise last month in the wake of the war in Iran exceeded the previous largest monthly rise of 58%, which was seen in March 2022 following of the Russian invasion of Ukraine. 

Compared to 12 months ago, home heating oil prices were up by over 63%, the CSO reported. 

It comes as defence forces are deployed on Thursday as fuel protests continue into their third day, with major demonstrations taking place in Cork, Dublin and motorways around the country in opposition to the rising price of fuel.

Tailbacks in both directions on approach and exit from the Jack Lynch Tunnel at Mahon, Co Cork.

Deputy Garda Commissioner Shawna Coxon has also warned that protesters blocking fuel depots and other critical infrastructure are breaking the law, and that gardaí will begin enforcement if people do not disperse.

Up to 40 forecourts are already without fuel, and that number “could touch 100 by the end of the day,” if the protests continue to blockade depots across the country, Vincent Jennings, CEO of the Convenience Stores and Newsagents Association (CSNA), said.

Heating oil prices 'highest ever'

The price of home heating oil was at its highest level since the CSO started publishing detailed sub-indices in 1996, the agency said. 

Meanwhile, diesel was at its highest level since July 2022 at €2.05 last month, while the price of petrol was at its highest level since August 2022, rising to €1.88.

The CSO said the price of diesel and petrol increased by 18.1% and 7.7% respectively in March.

On an annual basis, diesel rose by 16.5%, while the price of petrol increased by 5.7%.

It comes as overall inflation hit its highest level in more than two years, rising by 3.6%, according to the CSO's consumer price index.

Home heating oil contributed 0.52 percentage points towards the overall inflation rate in March 2026, the CSO said. 

The annual inflation rise of 3.6% was a considerable jump from the 2.7% in the 12 months to February, marking the highest annual rate of inflation observed in the CPI since January 2024, when the rate of inflation was 4.1%.

Home heating oil contributed 0.52 percentage points towards the overall inflation rate in March 2026, the CSO said. 

Diesel and petrol contributed 0.27 and 0.11 percentage points towards the overall inflation rate in March, respectively.

Ireland's largest business lobby group has called for an immediate de-escalation of fuel protests across the country, warning of "imminent threats" to supply chains unless they are removed, with some sites already ceasing production.