UK Heating Oil Prices continue at 4 Year low

heating oil prices fall

Crude and Heating Oil Analysis

Monday 7th September 2020

UK Heating oil prices continue to be at a 4 Year low as crude prices remain relatively stable. Crude Oil is hovering around the $39 – $42 mark with no signs in dropping further or indeed rising in line with seasonal trends.

The oil market continues to sustain minor price rallies. Geopolitical health risk is still prevalent but, the oversupply position is weakening.

UK Domestic heating oil prices are better than this time 4 years ago. Prices are very low for now with most distributors quoting between 25ppl to 28ppl.

September’s new heating oil season has got off to a poor start with oil distributors and brokers cutting margins. We expect a resurgence in heating oil prices probably at the end of September as the weather changes.

UK Domestic heating oil prices are better than this time 4 years ago. Prices are very low for now with most distributors quoting between 25ppl to 28ppl.

September’s new heating oil season has got off to a poor start with oil distributors and brokers cutting margins. We expect a resurgence in heating oil prices probably at the end of September as the weather changes.

UK Regional Analysis

Over the last 7 days there has been an decrease in the average UK oil distributor #heatingoil prices on the week of 2.07ppl finishing at 25.81ppl. .

England – average prices fell by 2.26ppl to 25.70ppl.

Scotland – average prices fell by 1.67ppl to 30.92ppl.

Wales – average prices fell by 3.27ppl to 25.69ppl

Northern Ireland -average prices fell 1.21ppl to 24.99ppl.

Request multiple quotes often 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 7 days, UK heating oil prices have steadily fallen by as much as an average of 2.07ppl. It remains to be seen if these prices can be sustained especially after a poor start to the 2020 heating oil season.

On the plus side, we have not seen prices like this for just over 4 years when prices were 33.63ppl. We highly recommend taking full advantage of the lower prices now.

The major key deciding factors on prices in the coming weeks will still be the price of crude oil, availability of product, the weather and any operational or delivery issues.

Keep an eye on your local price situation by getting multiple quotes from heatingoilshop.com, regularly check your tank & 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

Average prices for distributors fell 1.36ppl to 25.81ppl. Average broker prices fell to 28.12ppl. The difference between average distributor heating oil prices versus average online heating oil broker prices is 2.37ppl inc vat.

Savings do 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!

Today’s Broker Analysis

Average broker prices are down to 29.53ppl today. You can see from the above graph which brokers are charging the most today. Fueltool is at the top of the list today at 37.38ppl and based on a 20 day delivery to the random postcode chosen for comparison purposes.

So, do you really want to pay over the odds by using higher priced brokers? We’ll let you decide for yourselves. (All prices include VAT and are subject to regional and 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.

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

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

For current price trends, head on over to heatingoilshop.com and get multiple #heatingoilquotes from suppliers to your area.

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