SLASHED… Fuel prices have been down
FUEL PRICES in the county have plummeted with diesel now available on the Belleek/Ballyshannon border for less than a pound.
Crude oil prices have drastically fallen in the last few months and as a result Fermanagh motorists are taking advantage of the savings.
At TJ Hughes Service Station on the Ballyshannon/Belleek border motorists can purchase diesel for 99.9p a litre, while petrol users will pay 102.9p per litre.
In comparison Asda in Enniskillen, traditionally the cheapest fuel station in the county, offers diesel almost 12p more per litre at 112.7p, while there is a moderate saving on petrol of less than three pence, with the price yesterday set at 105.7p.
Owner of TJ Hughes Service Station Terry Hughes told the Herald the recent reduction in prices is far from over, with the cost of diesel to plummet further this weekend.
“Diesel is likely to go down a bit more this weekend, probably another 2p and petrol should come down below a pound this weekend also. I never in a million years thought this would happen.”
The reason for the reduction in prices is due to the development of fracking in America. This has rendered the United States self sufficient in natural gas and sent prices plunging. All of this means the OPEC (Organization of the Petroleum Exporting Countries) have had to balance the books in light of the biggest buyer being taken out of the market.
“The result of that is the oil is going to keep crashing for another month or so. You’re looking at diesel priced at 89p per litre in the next couple of months unless things change.”
Already the reductions have seen an increase in customers to the filling station, with Omagh and Enniskillen motorists taking advantage of the savings.
“If they’re coming up past they will stop and they will fill the tank, we’re 15/16p cheaper than Asda and of course people are going to take advantage of that. There always is that sort of difference, but it is a bit more stark now that we’re a pound, it is a price point, a psychological thing. Even in the North you’re going to see it going to a pound, but by that time we will be down to 85p.”
He continued: “It is a benefit to us, we still make the same profit out of a fill even when it is cheap as when it’s dear. They’re going to use more to fill the tank as it is for £20 less so they’re won’t be as much penny pinching. It also helps the economy in general as if someone is filling the tank every week and saving £20, they’re putting £1000 into the economy each year.”
Local Sinn Fein MLA Phil Flanagan admitted his delight at seeing the prices plunge at the pumps.
“It is certainly making a difference in people’s pockets, the cost of buying a fill of oil and filling the car is down and much more affordable and customers are noticing the difference. It is giving people more money to spend on other items and is helping the local economy. January is a long month in terms of pay day and this is a welcome boost.”
In light of the reduction in fuel prices Mr Flanagan has called on the utility regulator to reduce the price of electricity and is to raise the issue this week.
The MLA also hopes the savings in fuel will be felt in other areas including household shopping goods.
“It should have an impact on what people are paying in shops as transport costs are down. Are taxis going to put their prices down? Why are they putting up bus fares when the fuel prices are going down?”
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