Over the past few days, Irish households have been hit with another nasty surprise: home heating oil quotes have surged, and there’s fresh anxiety about petrol and diesel rising next. The timing isn’t random — it lines up with the escalation of the war involving Iran and growing fears about supply disruption through key global shipping routes.

Below is a clear snapshot of what people are paying right now, compared with last week and four weeks ago, with a special focus on Connacht / the West of Ireland.

Home heating oil in Connacht: the jump has been brutal (500 litres)

Oil comparison data for 03 March 2026 shows sharp week-on-week increases across Connacht — in many cases, €110–€140 more for a 500L fill than a week ago.

Connacht average (500L)

• Today (03 Mar): ~€613.15

• Same time last week: ~€491.72

• Four weeks ago: ~€478.73

(That’s roughly +€121 in a week, and +€134 in four weeks.)

By county (500L average)

National context (heating oil, 500L average)

Across Ireland, the average 500L price shown is:

• Today: €619.66

• Last week: €493.77

• 4 weeks ago: €479.25

That scale of movement is exactly why the Government has publicly flagged concerns and why the CCPC has been drawn into looking at the retail market response.

Petrol & diesel in Ireland: “official” weekly averages vs what you see on the ground

Motor fuel pricing is reported weekly at national level (EU Oil Bulletin). The latest published weekly point is week ending 23 Feb 2026 — and on that measure, petrol/diesel look fairly steady.

Ireland national averages (Euro 95 & Diesel)

What about Connacht pump prices?

Live, station-by-station prices vary a lot more than national averages. One Galway-area tracker is currently showing roughly:

• Diesel ~€1.689/L

• Petrol ~€1.758/L

And multiple Irish reports say that since the escalation around Iran, the visible impact on petrol/diesel at the pump (so far) is measured in cents, while kerosene/heating oil has moved far faster.

So why did heating oil spike so fast after the Iran war escalated?

A few forces can hit prices quickly — even before any “physical shortage” reaches Ireland:

1) Fear premium: markets price risk immediately

When conflict threatens a major oil corridor (especially the Strait of Hormuz), global markets add a “risk premium” fast. Diesel/distillates can react sharply because they’re already sensitive to supply tightness.

2) Kerosene/heating oil is closely tied to “distillates”

Home heating oil (kerosene) sits in the same general family as diesel/distillates. If global diesel markets tighten, wholesale distillate values can jump — and heating oil prices can follow quickly.

3) Retail pricing can move faster than inventories

This is the part that makes people furious: some stock in Ireland was bought before the latest escalation, so households naturally ask, “why am I paying today’s crisis price for yesterday’s fuel?”

That’s exactly why Irish political and consumer-focused coverage is now talking about possible “price gouging” and why monitoring/investigation has been raised publicly.

4) Ireland’s tax structure amplifies the final pump price

A huge chunk of what you pay at the pump is tax/levies. AA Ireland’s breakdown (for their February pricing snapshot) shows fuel prices are heavily tax-weighted (excise, carbon tax, VAT, etc.).

Where does Ireland buy most of our oil from?

Ireland imports all of the oil it uses. We bring in:

• Refined products (petrol, diesel, home heating oil, jet fuel) — historically mainly from the UK.

• Crude oil for refining at Whitegate (Cork) — historically mainly from Norway and the UK, with some supply from African sources (and other global sources depending on markets).

Also worth knowing: Ireland maintains strategic reserves through NORA, which holds stock obligations equivalent to around 90 days (stock levels are defined annually).

That reserve system is designed to protect against physical supply shocks — but it doesn’t automatically stop price shocks, especially if wholesalers/retailers reprice rapidly in response to global markets.