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Heating Oil Price Updates

heating oil price falls spring 2021
 

Milder – oil prices fall

By ukoilman On 11/04/2021 In Cheap Heating Oil, Crude Oil, Fuel Oil, Heating Oil, heating oil bargains

Milder – oil prices fall. Despite some pretty cold weather again in early April, heating oil prices are falling. Markedly, crude oil prices have risen and fallen back. Inevitably, it was the colder weather pushed UK heating oil prices higher.

Thankfully, the weather is due to improve with it being milder and agreeable this coming week. Daytime temperatures are forecast to be close to the norm early in the period and there should be a good deal of dry weather. Temperatures perhaps rise above average in the south and east, but in the north and west it remains cooler.

However, and with that in mind it is wise for heating oil users to regularly check their tank levels. We estimate that during the recent cold spells, homes (dependant on size) have used more heating oil this year.

If you have less than 25% of oil in your tank look to getting multiple oil quotes from us bit.ly/3qSvQ3e first then order.

Spring 2021 heating oil prices fall 

Market Trends

Oil prices sank on Monday as coronavirus cases surged around the world, leading to renewed lockdowns. Oil prices rebounded on Tuesday although the trend is not exactly bullish.

Crude Oil prices are set to post further losses this week, following several days of up-and-down trading. The story is the same of jockeying between market tightness and concerns about demand amid spreading Covid cases.

Other Market Factors

Today, Brent held above $62 per barrel after earlier falls. We feel the price may weaken but not by much. WTI is once again pushing to get over the $60 barrier.

Interestingly, OPEC+ is betting that demand will rise as some countries economies recover slowly from the covid-19 crisis. The loosening of OPEC+ production cuts shows the groups positivity and believes demand will continue to rise!


UK Market Trends

Milder as oil prices fall. Annonyingly, the colder weather returned to most of the UK last week. This resulted in resale prices rising especially in the latter part of this week.

Predicting heating oil prices for the next 30 days is never easy. Nevertheless, we see them gradually moving down again and stabilising ready for the summer months. However, weather conditions, crude prices and Covid-19 status could dramatically change pricing in a blink of an eye.

Spring 2021 heating oil prices fallLooking forward, the next weeks should see a more stable return to normal temperatures for this time of year. We still expect crude oil prices to waver as a reaction to increased Covid-19 cases. In the UK, we expect to see heating oil prices level off and slowly fall.

Most distributors are quoting between 39pl to 42ppl. Brokers are much higher and in the range of 40ppl to 47ppl


UK Regional Analysis

UK heating oil prices have increased by 2.25% this week. Over the last 7 days there has been an increase in the average UK oil distributor heating oil prices of 0.90ppl.

Spring 2021 heating oil prices fall

At the moment distributor heating oil prices are trending up, but we believe this will be short lived.

England – average prices up by 1.13ppl to 42.43ppl.
Wales – average prices fell by 0.07ppl to 42.13ppl.
Scotland – average prices down by 0.08ppl to 44.23ppl.
Northern Ireland – average prices rose by 0.50ppl to 35.99ppl.

Spring heating oil prices have been falling, but the recent artic cold blast this week pushed prices up. All things considered the next two weeks will be milder but wet. This will see prices fall.

Milder as oil prices fall. At the present time we recommend you check your heating oil tank regularly. Also check our daily twitter feed @ukheatingoils. You can request multiple quotes from heatingoilshop.com on a regular basis to avoid any possible imminent price rises.

Distributor Analysis

During the last 7 days, UK heating oil prices have gradually increased by 2.25% this week. This amounts to an average rise of just over 0.90ppl after adjustments and vat. However, the sudden worsening weather impacted UK heating oil pricestowards and during the weekend.

Generally speaking we feel that UK heating oil prices are now falling in line with seasonal requirements.

Spring 2021 heating oil prices fall
As of today, the UK heating Oil price of 40.82ppl is 0.90ppl higher on the week but on a par with 2017 prices.



Distributor vs Broker Analysis

Average prices for distributors fell 0.78ppl on the week. Similarly, average broker prices also fell by 1.00ppl.

Average prices for distributors rose 0.90ppl on the week. Another key point is average broker prices also fell by 1.06ppl but suddenly jumped 2.71ppl on Sunday 11th April.

Milder – heating oil prices fall. To put it briefly, the difference between average distributor heating oil prices versus average online heating oil broker prices had fallen to within 0.45ppl. But today it is 2.56ppl inc vat due to #boilerjuice and #UKHeatingOil (Certas) over reacting and stuffing their prices up considerably. (See graph below this one)

This is the one main big reason not using a heating oil broker such as #boilerjuice or #UKHeatingOil (Certas). On these numbers you would have paid an additional £25.60 on a 1000 litre delivery.

Spring 2021 heating oil prices fall 

Savings fluctuate and depend on your postcode and any other charges made by brokers.

For instance Boilerjuice™ charge an additional £3.49 and is applied to each order of heating oil or gas oil (red diesel) placed on their website or over the telephone.

Furthermore, brokers do not tell you their commission rate as it is calculated into the PPL. So always ask and check your final total. There are many bargains out there, especially from suppliers.

Today’s Broker Analysis

Average broker prices are up to 43.48ppl today. As you can see from the graph below, some brokers are much more expensive than others.

Please remember that some brokers are other trading arms of larger distributor groups. Boilerjuice in particularly has a long trading and previous ownership relationship with Certas, who are owners of Heatingoil.co.uk. Food for thought eh?

As can be seen, today there is a 6.89ppl difference separating the higher and lower priced brokers in our random postcode check.

Spring 2021 heating oil prices fall

We are not sure why there is such a big discrepancy between prices at the same postcode apart from greed. However, and fortunately for you, there are plenty of cheaper heating oil bargains from distributors and other brokers around the country.

Price difference calculations are based on 1000 litres delivered in 5-10 days to the same randomly picked postcode.

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Avoid Brokers

Spring heating oil prices are falling. Buying heating oil is all about timing! You would be better off comparing prices from heating oil distributors in your area by using our site heatingoilshop.com.

Remember, prices and savings change regularly and are delivery postcode dependant.

Heating oil brokers charge a variety of commissions, surcharges & admin charges or a mixture of all and these affect your final bill.

Spring 2021 heating oil prices fall
The graph above shows you seven-day prices for brokers. Some of these quotes include delivery charges, commission and admin charges. All of which push up the PPL exclusive of VAT price.

As you can see, there are some brokers that are consistently higher priced than others.

Fortunately for heating oil consumers there are plenty of heating oil distributor bargains around the country.


Spring 2021 Distributor heating oil prices fall

Things to do

Milder – heating oil prices fall. For current price trends, head on over to our main website at heatingoilshop.com and get multiple heating oil quotes from suppliers to your area.

Always check our daily postings on Twitter @ukheatingoils and keep up with prices and events. You are most welcome and encouraged to follow us.

Also check out our post on heating oil tanks and new legislation regarding heating oil boilers. Every heating oil user must be aware of the these changes in legislation and costs associated with heating oil spills and leakages.

There is also a very nice piece about whether or not the heating oil is the cheapest fuel. Click here.

Summary

Spring heating oil prices are starting to fall as the risk of colder spells drops. We are encouraging all customers to check their tanks first. Then get multiple heating oil quotes & order on the best price possible.

A combination of rising temperatures, and lockdown easements should see lower prices as we become more mobile.

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