Crude and Heating Oil Analysis
Monday 27th January 2020.
Crude Oil and UK Heating oil prices have dived over the last week. Much to the good of the UK heating oil market.where average prices have fallen by as much 5.69ppl since 1st January 2020
Once again, the oil market continues to demonstrate its inability to sustain a much higher price. However, OPEC has its quarterlyt meeting in March 2020 but, with these prices we cannot seem them waiting till then to shore up the oil price. It is no doubt receiving pressure from its members to increase production before its next meeting.
Weak demand still dominates, and over supply looms. Brent is below $60 again and OPEC hopes to be able to push prices higher when it review its production output policy.
Brent price is down $1.07 (1.76%) today and is $59.62. WTI is also down $0.82 (1.51%) and is at $53.37. You really owe it to yourself to keep an eye on pricing and request multiple quotes often from heatingoilshop.com. Go to our home page and half way down you’ll see live market trading positions. (Mon-Fri Trading hours)
Market Heating Oil prices are down by $4.13 (2.49%) to $1.6909. We do feel that they may have reached their optimum price for the time being
The last 7 days has seen UK heating oil prices tumble. Average prices have dived by as much 5.69ppl since January 1, 2020 and are lower in comparison with the same time last year. We see heating oil prices will stabilizing sooner rather than lateror later.
Major deciding factors on prices in the coming weeks will still be the price of crude oil, and/or further OPEC production cuts, colder weather and availability of product!
Brexit will probaly impact UK prices later this week. But, the effects are double edged and prices are just as likely to rise or fall. Fuel supply is unlikely to be affected as 90 day stocks are held. Price volatility will be short-lived as markets will stabilise & business return to normal.
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 further to 46.04ppl and average broker prices fell 1.66ppl to 47.70ppl. The difference between average distributor
#heatingoil prices versus average online heating oil broker prices is 1.66ppl inc vat. This means you can save a further average of £8.30 on 500 litres or £16.60 on a 1000 litres buying from a distributor. This does fluctuate between broker and distributor and depends on your postcode and other charges made by brokers.
Our advice is to thoroughly check the broker quotes for hidden charges such as website usage fees, admin fees and additional delivery charges on shorter delivery day requests. There are many bargains out there, especially from suppliers. Remember, savings can change in an instant!
Wise up, cost more money. Brokers charge a variety of commissions, surcharges & admin charges or a mixture of all and these affect your final bill. Boilerjuice and Valueoils are notorious for loading quotes with delivery charges, commission and admin charges. All of which push up the PPL exclusive of VAT price. As you can see using a broker today, can cost you more and it does vary from day-to-day and from broker to broker. Individually some of the brokers can be cheaper than the average distributor price. That’s why it is better to choose multiple
#heatingoilquotes from HEATINGOILSHOP.com where the price quotes are free of commissions, delivery or other surcharges, and more competitive.
Today’s Broker Analysis
You can see from the above graph which brokers are charging the most today. Today, #TankTopperUK, the online arm of Craggs Energy have been dominating the broker list for 7 weeks now with higher heating oil pricing at 50.58ppl (incvat) some 4.37ppl than its lowest priced competitor. Boilerjuice, once the cheapest of brokers, continue to charge you their “fund our website” fee of £3.49 and the occassional additional delivery charge for shorter periods. However, the general practice is to increase the PPL price accordingly.
It’s common sense to steer away from brokers with higher pricing, commission charges and delivery charges. 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.
UK Regional Analysis
There has been an decrease in the average UK oil distributor
#heatingoil prices on the week of 2.24ppl finishing at 46.04ppl. This time last year the price was 50.06ppl!
#Scotland average prices fell by 2.59ppl to 48.15ppl.
#Wales average prices fell by 1.80ppl to 48.90ppl
#NorthernIreland average prices fell 2.95ppl to 43.78ppl.
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.
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.
Please note, we do not charge suppliers or consumers brokerage commissions nor do we add surcharges like other sites.