Crude and Heating Oil Analysis
Sunday 1st September 2019. Crude and Heating Oils Fall after struggling to make some impression in the markets.
Average UK heating oil prices have fallen steadily in the last 8 days but are now starting to rise as summer prices close. We suspect this will not continue as late data on Friday shows the market prices for all products is down. Crude Oil prices did stage a small comeback last week but failed on Friday. Tighter production cuts, demand fears, inventory draws and a strong US Dollar are making some small impressions on pricing as we enter September. The UK distributor and broker heating oil price had risen by small amounts for the weekend but are set to fall Monday given the losses on Friday.
Brent prices are down $1.24 (2.05%) today and is $59.25. WTI is down $1.61 (2.84%) and is at $55.10. It is clear to us that OPEC’s price strategy is not working for every attempt to move upwards is thwarted by other external factors. This is still an im portant time to watch prices and we recommend taking full advantage of late summer pricing and fill your tank to the top. Go to our home page and half way down you’ll see a live market trading position. (Mon-Fri Trading hours)
The #heatingoil price is also down today by $03.27 (1.75%) to $1.8373. This fall will see even lower UK prices at the beginning oif the week. Today’s prices are still very good but we feel they may rise towards Thursday the 5th September. As we enter the next traditional seasonal price change, demand is still low and you may get some late summer bargains.
Over the first 8 days heating oil prices were falling well but have started creeping up on the 31st August. Today, prices have risen by 0.72ppl to 49.80ppl (inc vat) and are still 0.63ppl cheaper than broker prices. The sharp price rise was a direct result of OPEC’s third attempt to stabilise and halt the downward slide of the crude oil price. However, their hopes were dashed as crude oil prices once again fell. Fridays market price falls should react on Monday with UK prices slightly falling then rising again by small increments at the end opf the coming week and through September.
The major deciding factors on prices in the coming weeks will still be the price of crude oil, production cuts, cooler weather and availability of product. Brexit, although 2 months away will without doubt impact UK prices. Equally important is a very strong dollar against the pound and euro. The trend seems to be settling and staying with us for a while. 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 rose 0.72ppl to 49.80ppl and average broker prices rose 0.68ppl to 50.43ppl. The difference between average distributor
#heatingoil prices versus average online heating oil broker prices rose today to is 0.63ppl inc vat. This means you can save an average of £3.15 on 500 litres or £6.30 on a 1000 litres buying from a distributor. This does 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!
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
Average broker heating oil price rose to 50.43ppl (incvat). ValueOils, who charges commission and delivery charges is dearest today than Home Fuels Direct by a massive 5.76ppl,Tank Topper is 2nd dearest, &Certas Energy is 3rd dearest.
So, do you really want to pay an average of £28.80 more for 500 litres or an average of £57.60 more for a 1000 litres by buying from the most expensive? In the broker category we have seen low prices of 48.29ppl and highs of 54.05 (inc vat). (All prices are dependant on 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.
31 Day Broker Price Analysis
Over the last 31 days up to 31st August June, we have sourced broker prices at different postcodes. In the graph below, you can see which heating oil Brokers have performed consistently well or not so well over the month as regards pricing. There have been some changes since last month with TankTopper once again taking pole position. Fuel ToolValue is in second place with Value Oils in third place. DirectOil continues to perform much better than its competitors. Home Fuels Direct continue to consistently outstrip the competition by being on average 3.39ppl cheaper than the most expensive.
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 31 days. Each broker is compared with other brokers at the same postcode on the same day with the same load size. Moral of the story choose your brokers with care and watch their prices here.
You’re better off getting multiple quotes through heatingoilshop.com and comparing prices without having to pay commissions or admin charges. It really is time to get multiple heating oil quotes from heatingoilshop.com‘s suppliers and stop paying commissions to brokers. So, hop over to heatingoilshop.com to see if you can reduce your overall
#heatingoil costs this Winter.
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.
UK Regional Analysis
Over the last 7 days there has been a sharp increase in the average UK oil distributor
#heatingoil prices on the week of 0.51ppl which finished up today at 49.80ppl (inc vat). Today’s prices are starting to rise but we suspect will fall Monday and stay lower through till end of Wednesday.
#Scotland average prices rose by 0.83ppl to 53.18ppl.
#Wales average prices rose by 0.23ppl to 49.19ppl
#NorthernIreland average prices rose 0.75ppl to 47.54ppl.
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.