BY RACHEL Quigley
NOT ONLY has the price of oil risen by an astounding 400% in the last three years but local suppliers are warning that it set for another 50% hike between now and June.
In one week alone, the price per litre went up by 6p, and this is only a taste of things to come.
The Strabane Chronicle set about investigating the effect rising oil prices are having on the local community.
Strabane's oil companies say their hands are tied, as they are simply responding to the increase in price from their suppliers.
"We wish it was cheaper. We all use oil to heat our homes but we have to respond to the prices we are charged. We understand it is a difficult time for our customers and are doing everything we can to accommodate them," said John Mc Hugh, of Mc Hugh's Oils.
Don Millar, of Millar Bros Fuels, said customers are now receiving half the amount of oil for the same amount of money.
"One customer showed me her May 2005 bill. She paid £100 for 390 litres of oil. This month, she received 160 litres for the same money. All our customers are complaining but there really is nothing we can do about it. We try to be as competitive as possible with our prices."
Despite the fact they have been inundated with concerns from customers, local companies insist there has been no decrease in trade.
It's simply a case that people are buying smaller amounts, which means more deliveries, passing the cost back to the supplier.
According to research by the DSD, one in three households are living in fuel poverty, an increase of 7% from 2004. Around 25% of oil tanks throughout the North are empty, with many homes resorting to the use of coal or wood.
That situation is likely to deteriorate when prices rocket by another 50% in less than three months time.
At Michael Doherty Oils Ltd, the firm said the hike in oil prices will continue for quite some time. But it too said it is trying to accommodate customers.
John Mc Hugh added, "No one really knows what is happening at the minute, but it's certainly looking like there are bad times ahead."
