Heating Oil Price Updates

UK Heating Oil Prices at a 19 month low

Sunday 16th June 2019. Crude oil and heating oil prices starting to rise today  and already the gains are quite big. Looks like Saudi Arabia and OPEC+ have started to shore up the oil price and have proved production cuts would be sticking around for a little while longer.

A sustained rise could see UK #heatingoil prices start to push up despite summer pricing now in full swing. Brent prices are up $0.70 (1.14%) and is $62.01. WTI is also up $0.23 (0.44%) and is at $52.51. 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 $2.28 (1.26%) to $1.8294 which will push prices up next week especially in crude oils move upwards. Fill your heating oil tanks as prices are at Dec 2017 levels at the moment. In effect, prices have crashed to a 19 month low at the moment.

Attempts to push crude and other petroleum product prices higher are met with styrong resistance with the US increasing production. Prices could go higher now with OPEC pushing for more production cuts. Weak exchange rates & sanctions against Venezuela and  the escalating trade war between the US and China all play their part. It has also become a little more complicated with Iran allegedly trying to sink to VLCCs. It is quite clear to us hear that despite further threatened OPEC’s production cuts heating oil prices may just float for the time being at these low levels.I t’s worth getting multiple 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.

Just over the last 10 days distributor average prices have steadily fallen by 0.89ppl. Today we have seen prices fall further to 47.33ppl. Will they fall further? And how can the market sustain these low prices is a mystery but one that is fraught with pssible casualties that cut prices to the point where it affects their bottom line. We see prices rising soon!

The major deciding factors on prices in the coming weeks will still be the price of crude oil, production cuts, trade wars, warmer weather and availability of product.  The trend is set downwards for now. Keep an eye on your local price situation by getting multiple quotes from heatingoilshop.com, & make sure you do not run out of and top up where necessary. Save money by getting quotes from a heatingoilshop.com distributor and not incentivised brokers.

We recommend using #heatingoil distributors as opposed to brokers because you can save money on final prices. Brokers do charge for additional costs such as delivery and commission. So avoid brokers and get #heatingoilquotes from real heating oil distributors through heatingoilshop.com today and compare your local prices.

Today, average prices for distributors fell to 47.33ppl as average broker prices also fell to 47.43ppl. These 19 month low prices cannot be maintained much longer because the OPEC+ production cuts are having an effect on crude prices. The difference between average distributor prices versus average online heating oil broker prices today is just 0.10ppl inc vat. This means you can save an average of £0.50 on 500 litres or £1.00 on a 1000 litres depending on your postcode. Remember, savings can change in an instant!

(Average heating oil Broker prices on 16th June at the same postcode for delivery of 1000 litres on a 5 working day basis )

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 #heatingoilquotes from HEATINGOILSHOP.com where there are no commissions, delivery or other surcharges.

Today’s average broker prices are up to 47.43ppl. However, you can see from the above graph who are the brokers charging the most today. DirectOil owned by Watson Fuels tops the bill and is 4.49ppl more expensive than HeatingOil (Certas). In the broer category we have seen a low prices of 46.11ppl (inc vat) and highs of 50.60 (inc vat). (All prices are dependant on postcode variations). You would be better off comparing prices from suppliers in your area using heatingoilshop.com.  Remember, prices change regularly and are delivery postcode dependant.

Over the last 31 days up to 31st May, we have sourced broker prices at different postcodes. In the graph below, you can see which Brokers have performed consistently well or not so well. There have been some changes since last month with TankTopper taking pole position as being the most expensive this month.

Average daily heating oil broker prices for the 31 days to 31st May 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.

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.

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 fall in average UK oil distributor prices on the week of 0.40ppl to 47.33ppl. Lower prices are however starting to come to an end as crude oil prices start to rise. We are confident the current low prices cannot be sustained much longer.

In average prices fell by 0.35ppl to 47.05ppl

In average prices fell by 0.88ppl to 51.64ppl.

In average prices fell 0.34ppl to 47.04ppl

In average prices fell 0.00ppl to 44.98ppl.