Heating Oil Price Updates

Order heating oil early in time for Xmas

Crude and Heating Oil Analysis

Tuesday 19th November 2019 and UK Heating Oil prices have yoyo’d this last 10 days but have settled in the last 4 days. It is reported that some analysts see the world dodging a recession next year, which provides some upward room for oil prices. So fill up order your heating oil  tank now.

“The hefty supply cushion” or oil glut building up  for the first half of 2020 will cause OPEC+ problems as they try to balance the oil market.  The surplus is building primarily because of a steep drop in demand growth this year.

As we have said in the past, the oil market continues to demonstrate its inability to sustain a much higher price. However, OPEC is receiving pressure from its members to increase production cuts at its next meeting  in Vienna on 5th December.  Weak demand still dominates, and over supply looms. Brent is above $60 again and OPEC hopes to be able to push prices higher when it reviews its production output policy. So, heating oil prices could rise significantly just before Christmas.

Brent price is down $0.85 (1.36%) today and is $61.59. WTI is also down $0.94 (1.65%) and is at $56.11. The colder weather is starting to make an impact now and with Christmas looming keep an eye on pricing and request multiple quotes often from heatingoilshop.com. Go to our home page and half way down you’ll see live market trading positions. (Mon-Fri Trading hours)

Heating Oil prices are down today by $1.83 (0.96%) to $1.8864. As a result, we have seen average UK heating oil market prices fall then stabilise over 4 days. We do feel that they have reached their optimum price for the time being and will start to rise further as the colder weather and Christmas arrives.

It’s worth getting multiple #heatingoil quotes from heatingoilshop.com on a regular basis to avoid any possible imminent price rises. Fill up your heating oil tanks on lower prices for now.

Distributor Analysis

The last 10 day's heating oil prices have been quite low in comparison with the same time last year. Current prices some 10%+ lower than this time last year. Prices have been unstable for the last 10 days which have culminated in a fall for the last 4 days. Prices are 1.04ppl dearer than 10 days ago.  We will see prices rising as we near Christmas. The weather, product availability and OPEC’s desire to decrease production will also be a major influence on prices.

The general election result could have marked reaction depending on who wins. A weaker pound would definitely put up prices. Brexit will without doubt impact UK prices. But, the effects are double edged and prices are just as likely to rise or fall. Fuel supply is unlikely to be affected as 90 day stocks are held. Price volatility will be short-lived as markets will stabilise & business return to normal.

Keep an eye on your local price situation by getting multiple quotes from heatingoilshop.com, #checkyourtank & make sure you do not run out of #HeatingOil and top up where necessary. Save money by getting quotes from a heatingoilshop.com distributor and not incentivised brokers.

Distributor vs Broker Analysis

Today, average prices for distributors fell 0.01ppl to 49.00ppl and average broker prices fell 0.41ppl to 49.36ppl. We cannot see heating opil prices going much lower before Christmas. The difference between average distributor #heatingoil prices versus average online heating oil broker prices is 0.36ppl inc vat.  This does fluctuate between broker and distributor and depends on your postcode and other charges made by brokers.

We have seen a worrying trend by some brokers who have put up commission and delivery charges and discriminating certain postcodes or days of the week with high delivery charges.

Our advice is to thoroughly check the broker quote you are given for hidden charges.  There are many bargains out there, especially from suppliers. Remember, savings can change in an instant!

Wise up, Brokers cost more money. Brokers charge a variety of commissions, surcharges & admin charges or a mixture of all and these affect your final bill. As you can see using a broker today, can cost you more and it does vary from day-to-day as we have seen over the week. Choose Multiple heating oil quotes from HEATINGOILSHOP.com where there are no commissions, delivery or other surcharges.

Today’s Broker Analysis

Average broker prices are down to 49.36ppl today. You can see from the above graph which brokers are charging the most today. Today, HeatingOil.couk, the online arm of Certas Energy is the higher priced at 51.36ppl (incvat) some 4.74ppl higher than its lowest priced competitor.( Always check our Twitter account for updates).  Tank Topper and Direct Oil have also above average pricing. Boilerjuice, once the cheapest of brokers, have increased their prices by introducing delivery charges on random/certain postcodes. The shorter the period the more you will pay. You will still pay their “fund our website” fee of £3.49.

It’s common sense to steer away from brokers with higher pricing, commission charges and delivery charges. You would be better off comparing prices from heating oil distributors in your area using heatingoilshop.com.  Remember, prices change regularly and are delivery postcode dependant.

30 Day Broker Price Analysis

Over the last 31 days up to 31st October 2019, we have sourced broker prices at the same daily random postcodes. In the above graph you can see which heating oil Brokers have performed consistently well or not so well over the month as regards pricing.  These are the average prices achieved during the 31 day peioid by each broker.  DirectOils leads the month as bing the most expensive on average. HomefuelsDirect continue to outstrip the competition by being on average 4.59ppl cheaper than the most expensive.

It has to be said that these are average prices at various postcodes over the course of 31 days. Each broker is compared with other brokers at the same postcode on the same day with the same load size. Moral of the story choose your brokers with care and watch their prices here.

Our advice is to keep those tanks topped up without paying commission or other charges being added. If you are low on fuel, less than 25% then you need to take action now and fill up at good prices.

You’re better off getting multiple quotes through heatingoilshop.com and comparing prices without having to pay commissions or admin charges.
Our conclusion is you’re better off getting multiple quotes through heatingoilshop.com and comparing prices without having to pay commissions or admin charges.

UK Regional Analysis

Heatingoilshop.com prides itself on not charging commissions, delivery charges and general website usage charges.

The average price table is a guide only and does not constitute an offer.  As regional, postcode and supplier differences occur, we encourage you to obtain multiple and competitive #heatingoilquotes from heatingoilshop.com to get the latest deals and prices from the suppliers delivering to your area.

The last week has seen prices up and down like a yoyo. However, there has been a net decrease in the average UK oil distributor #heatingoil prices on the week of 1.86ppl finishing today at 49.00ppl.

In #England average prices fell by 2.00ppl to 48.87ppl.

In #Scotland average prices fell by 0.71ppl to 51.23ppl.

In #Wales average prices fell by 0.96ppl to 48.75ppl

In #NorthernIreland average prices rose 0.02ppl to 46.65ppl.

There is a likelihood For current price trends to change as we near Christmas and delivery slots are harder to come by. Head on over to heatingoilshop.com and get multiple  #heatingoilquotes from suppliers to your area and do it asap.