Heating Oil Price Updates

Big falls in UK heating oil price

Crude and Heating Oil Analysis

Sunday 21st  July. The UK distributor and broker heatingoil price has steadily fallingy over the last few days primarily due to lower crude prices. We do expect prices to stabilise over the next few days as crude is also stabilised at a lower level. Not exactly what OPEC had designed to happen.  A strong dollar has helped keep prices relatively stable which is just what OPEC wanted. However, whilst the resolve of OPEC is strong the US is reacting with higher production.

Today, Brent prices are up $0.54 (0.87%) and is $62.47. WTI is also up $0.33 (0.60%) and is at $55.63. Go to our home page and half way down you’ll see a live market trading position. (Mon-Fri Trading hours)

The #heatingoil price has also risen by $2.71 (1.46%) to $1.8896. In real terms this is a lot lower than expected and UK domestic distributor and broker heating oil prices have fallen as a result.  We expect a further ¼ppl fall in the UK market. Today’s prices are very good and lower than Dec 2017 prices. So, before you go on holiday fill your heating oil tanks now as prices are very cheap.

Although attempts to push crude and other petroleum product prices higher they are still being met with strong resistance from the US increasing production. Energy policy is key to the US economic policy. 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 distributor average prices have been erratic but have fallen in the last 6 days.  Prices today have fallen by 0.35ppl to 48.55ppl (inc vat). This is a 2.95% fall over 6 days. As crude prices are starting to slow down, we expect the UK domestic heating oil market price to decrease during the next two days. After that and, as we see it, the immediate future seems to be one of stable prices.

The major deciding factors on prices in the coming weeks will still be the price of crude oil, production cuts, warmer weather and availability of product. Mid East conflicts seem to have abated for the time being. Equally important is a very strong dollar against the pound and euro.  The trend is still unsettled for now. 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 0.35ppl to 48.55ppl as average broker prices also fell 0.29ppl to 49.65ppl. The difference between average distributor #heatingoil prices versus average online heating oil broker prices fell today to 1.10ppl inc vat.

This means you can save an average of £5.50 on 500 litres or £11.00 on a 1000 litres depending on your postcode.  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 21st July @ same postcode for a delivery of 1000 litres on a 5 working day basis )

Today’s Broker Analysis

Average broker prices are down to 49.65ppl today. You can see from the above graph which brokers are charging the most today. TankTopper at 52.14ppl have been in the top spot for some time and are leading the field for this month so we suggest choosing a cheaper alternative supplier. In second place is DirectOil who are charging on average today 50.96ppl. HomeFuelsDirect continue to compete for your business at very good prices by being 3.43ppl cheaper. Certas Energy thru heatingoil.co.uk are the cheapest today which is a rare occurrence. Comparisons were made at a “BN” postcode.

So the moral of the story is, do you really want to pay an average of £22.50 more for 500 litres or an average of £45.00 more for a 1000 litres by buying from the most expensive?  In the broker category we have seen a low prices of 47.73ppl  and highs of 52.14 (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.

30 Day Broker Price Analysis

Over the last 30 days up to 30th June, we have sourced broker prices at different postcodes. In the graph below, 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 Direct Oil once again taking pole position. TankTopper has dropped to second place as being the next expensive last month.

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

We compared prices on the same day and postcode for each one. 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.

It has to be said that these are average prices at various postcodes over the course of 30 days and reflects the price consistency of each broker. So 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.

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 an average fall in UK oil distributor #heatingoil prices on the week of 0.68ppl to 48.55ppl.

In #England average prices fell by 0.69ppl to 48.14ppl.

In #Scotland average prices fell 0.45ppl to 52.31ppl.

In #Wales average prices fell by 1.16ppl to 47.51ppl

In #NorthernIreland average prices fell 0.41ppl to 45.40ppl.

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