Home heating oil prices

That's good to hear, if 500 litres gets reasonably affordable I'll get it and that will see me into the winter easily.

If reports Im reading are correct, Ireland imports around a third of its diesel and kerosene (jet fuel and home heating oil) from the UK. The Uk no longer refines these products (only petrol).

The last tanker carrying kerosene is expected to arrive today in the UK.

An estimated 5 tankers with crude oil and refined diesel are currently making their way and expected to arrive over the course of next week.

So from mid-April onward, Ireland will be entirely reliant on North Sea (Norway/UK) and US for imports, along with most other countries in Europe. There may be the odd delivery with tankers that are being filled from the Saudi pipeline, but otherwise thats it.

As Skys economist Ed Conway puts it, the UK (and by implication wider Europe) is facing an energy cliff edge at this time, as supply will be at least 10-15% below actual daily consumption. Doesnt sound like much, but there simply wont be enough to go around.

At that point its either rely on the market to control demand through sky high prices or else price controls managed by rationing. Not good either way.

Hopefully it will be temporary and the orange man will TACO…..if not, buckle-up.

Do you remember when they wheeled out the Irish central bank boss to reassure markets during the 08 credit crisis

Deja vue

I do. Nothing like a senior minister or official saying things are fine to cause panic.

No law against "gouging" in a free market economy. It may have made the taoiseach popular within certain sections in society for a while but it's not really helpful to anyone long-term. Mac Partland gone very quiet which is no harm.