Heating Oil Price Updates

Heating Oil price has fallen

Crude and Heating Oil Analysis

Sunday 13thOctober.

UK Heating Oil prices stabilise as crude also stabilises.

Average UK  heating oil prices have steadily fallen since 4th October. Crude oil prices have been pretty stable up until Friday when they started to lift. Demand fears, inventory draws and the U.S.-China trade negotiations might result in a limited breakthrough.

The oil market had demonstrated its inability to sustain a price rally much up until recently as market traders are giving no premium to geopolitical risk. Instead, weak demand dominates, and over supply looms. Brent rose above $60 per barrel this week for the first time in a while. A surprise “attack” on an Iranian tanker has forced prices up as the US sends more troops to Saudi Arabia after further unprecedented attacks on oil infrastructures takes place.

The UK distributor and broker heating oil price has been bobbing along for the last 3 days without breaking a sweat.

Brent prices are up $1.41 (2.39%) today and is $60.51. WTI  is also up $1.15 (2.15%) and is at $54.70. Traditionally, October is a busy month for UK Domestic heating oil purchases, so you’ll all need to 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)

The #heatingoil price is up today by $3.68 (1.92%) to $1.9576. As a result, we have seen average UK heating oil market prices stabilise then fall. Today’s prices are still  good but we feel they will rise mid week as colder wetter weather trakes a grip and the pre-Christmas demand is gearing up.

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

Over the last 10 days heating oil prices have been gradually falling and have now reached their lowest for the time being. Today, prices have fallen 0.21ppl to 50.55ppl (inc vat) and are still 1.04ppl cheaper than 10 days ago.  We see prices slightly rising by small increments throughout the coming month .

The major deciding factors on prices in the coming weeks will still be the price of crude oil, production cuts, cooler weather and availability of product.

Brexit, although just 18 days away will without doubt impact UK prices. But, the price is 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 0.21ppl to 50.55ppl and average broker prices fell 0.22ppl to 51.99ppl. The difference between average distributor #heatingoil prices versus average online heating oil broker prices rose today to is 1.44ppl inc vat.

This means you can save an average of £7.20 on 500 litres or £14.40 on a 1000 litres buying from a distributor. This does fluctuate and depends on your postcode and other charges made by brokers.  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.

Heating oil Broker prices on 13th Oct @ same postcode for each supplier. A 1000 litres on a 5 working day basis

Today’s Broker Analysis

Average broker prices are up to 51.99ppl today. You can see from the above graph which brokers are charging the most today. Today, DirectOil, the online arm of Watson Fuels has been dominating the broker list all week with excessive heating oil pricing at 57.72ppl some 7.86ppl dearer than its lowest priced competitor. Since World Fuels took them over heating oil pricing has been uncompetitive! ValueOils is next, and they recently increased their commission fees to £10 and charge delivery fees based on shorter delivery times.  DirectOil are 7.86ppl more expensive than Home Fuels Direct. Comparisons were made at a “GL” postcode.

So, do you really want to pay an average of up to £39.30 more for 500 litres or an average of £78.60 more for a 1000 litres by buying from the most expensive?  In the broker category we have seen a low prices of 49.86ppl and highs of 57.72ppl (inc vat). (All prices are dependant on postcode variations).

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.

Average daily heating oil broker prices for the 30 days to 30th September 2019 at a different daily postcode for delivery of 1000 litres on a 5 working day basis.

30 Day Broker Price Analysis

Over the last 30 days up to 30th September, we have sourced broker prices at different postcodes. In the graph up, you can see which heating oil Brokers have performed consistently well or not so well over the month as regards pricing. There have been some changes since last month with TankTopper once again taking pole position. DirectOils is in second place with Value Oils in third place. One to watch. HomefuelsDirect continue to outstrip the competition by being on average 2.66ppl cheaper.

Our graphic is based on average prices for each brokers’ performance over the last 30 days. The best and worst performers during this period can be clearly identified. HomeFuels Direct remains the most consistently well and low priced broker by being 3.65ppl cheaper. for over 3 months now!

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.

You’re better off getting multiple quotes through heatingoilshop.com and comparing prices without having to pay commissions or admin charges. It really is time to get multiple heating oil quotes from heatingoilshop.com‘s suppliers and stop paying commissions to brokers. So, hop over to heatingoilshop.com to see if you can reduce your overall #heatingoil costs this Winter.

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.

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.

Over the last 7 days there has been a decrease in the average UK oil distributor #heatingoil prices on the week of 0.73ppl finishing at 50.55ppl. However, we anticipate prices to rise mid next week.

In #England average prices fell by 0.75ppl to 50.09ppl.

In #Scotland average prices fell by 0.58ppl to 53.55ppl.

In #Wales average prices fell by 0.96ppl to 50.24ppl.

In #NorthernIreland average prices fell 1.03ppl to 48.80ppl.

Always check our daily twitterings on Twitter @ukheatingoils and follow us please.