Sunday 22nd October 2017. Crude Oil prices started rising but are below crude prices of 2 days ago. Brent Crude is up by $0.52 or 0.91% to $57.75. WTI, is $51.84 up $0.33 or 0.64%. Bloomberg is currently reporting a rise in heating oil at $1.8052 a rise of $2.85 or 1.60%. With crude rising today we are expecting UK heating oil prices to inch up next week.
Current Average UK heating oil prices over last 14 days are lower and appear to have settled down. However, we are expecting average UK prices to lift about 0.07ppl (an added £3.50 on a 500 litre load) tomorrow (Monday) with slight variations around the regions . It is clear from the graph above that prices have settled into more normal conditions following the volatile in the first part of the 14 day period. The blue logarithmic line is now showing stabilisation. The gap between actual and predicted still leaves room for an upswing but only by a tenth of a penny. Remember to look around and obtain quotes from heatingoilshop.com.
The last 7 days has shown the average UK heating oil price to have increased by 0.16ppl to 41.82ppl with a 7 day average of 41.80ppl. In England, prices rose 0.15ppl to 41.43ppl with a seven day average of 41.41ppl. Scotland has increased by 0.20ppl over the week to 44.36ppl with an average of 44.28ppl. Wales also saw a fall of 0.01ppl to 41.70ppl with an average of 41.78ppl. Northern Ireland also saw a rise of 0.17ppl to 40.40ppl with a 7 day average of 40.39ppl.
Please bear in mind that the figures above are averages. There are seven main cost areas that go into calculating the price you are given for a heating oil quote. The above figures are guidelines only and are based on 1000 litres.