Monday 7th December 2020
Standard heating oil delivery slots are filling up fast.
Cold weather and the Christmas rush is having a big effect on logistics and prices. Our concerns are for delivery delays leading up to Christmas which started much earlier than last year due to Covid-19 and colder weather.
Ultimately Christmas deliveries do put pressure on distributors. We highly recommend getting heating oil quotes much earlier this year.
Oil prices rose on Friday 3rd December after OPEC+ members compromised and agreed to a partial increase in production beginning in January 2021, preventing a breakdown in the agreement. Brent crude inched closer to the $50 per barrel in a sign of confidence in the deal.
Opec+ also agreed to meet monthly going forward in early 2021 to assess the health of the market. The deal was not as bullish as market analysts had expected, but neither was it a failure. The reaction in oil prices suggests OPEC+ did enough to maintain market stability.
As Coronavirus cases continue to surge in the U.S. and Europe, the UK was first to announce a vaccine approval. The country is rolling out an immunisation program starting this coming week as the country moves from a one month lockdown to a tiered system.
Oil prices are now trading in a much better range and have surged but not yet crossed the $50 marker which inevitably will push downstream products up in price.
UK Market Trends
Standard heating oil delivery slots are filling up fast. Festivities at this time of year puts a big strain on all heating oil distributors. At the same time heating oil customers leave it till the last minute to order their Christmas and winter fuel.
A combination of delay and wait tactics combined with higher crude prices has sent local heating oil prices in ther UK soaring. Under these conditions circumstances distributor heating oil prices are 7ppl dearer than September.
The good news is they are still 35% cheaper than for the same period last year. Bargains are now hard to find.
Although prices continue to be at an all time 4 Year low, we see further demand for heating oil increasing as the weather becomes colder. Buy heating oil now and fill up.
At this moment in time, we see distributor prices gradually rising during the next 10 days. Most distributors are quoting between 30ppl to 38ppl.
UK Regional Analysis
UK heating oil prices have increased by 5.66% this week. Over the last 7 days there has been an increase in the average UK oil distributor heating oil prices on the week of 1.83ppl finishing up today at 34.17ppl.
At the moment distributor heating oil prices are trending up.
England – average prices rose by 2.20ppl to 35.36ppl.
Wales – average prices rose by 1.90ppl to 35.47ppl.
Scotland – average prices rose by 1.41ppl to 37.49ppl.
Northern Ireland – average prices rose by 1.20ppl to 30.64ppl.
Standard heating oil delivery slots are filling up fast. At the present time when prices are rising we recommend checking in on our twitter feed and website. You can request multiple quotes from heatingoilshop.com on a regular basis to avoid any possible imminent price rises.
During the last 7 days, UK heating oil prices have risen by 5.66% this week. This amounts to an average rise of 1.83ppl after adjustment and vat.
Heating oil prices are now trending up as crude prices attempt to past the $50 mark.
At this moment in time, we see domestic prices rising in the next two weeks due to increased crude prices, delivery days and continued cold spells.
As of today, the UK heating Oil price of 34.17ppl is 18.28ppl lower than this day a year ago. Not only that, 4 years ago the price was 42.66ppl, 8.49ppl dearer. As such, this is a great opportunity to reduce heating costs subsatantially. Take full advantage of the lower prices now. Buy heating oil now as cold weather is on its way!
The major key deciding factors on prices in the coming weeks will still be the price of crude oil. Availability of product, colder weather and delivery issues will play a major role in low heating oil prices continuing.