Crude and Heating Oil Analysis
Wednesday 14th August. Crude Oils Struggle as heating oil falls today
Average UK heating oil prices have fallen steadily in the last 7 days. Crude Oil prices though are struggling to make a comeback. Expect tighter production cuts in the near future. Demand fears, inventory draws and a strong US Dollar are playing off one another and geopolitical upsets are failing to make any impression on prices. The UK distributor and broker heatingoil price has now started to fall today. However, we do not expect much more in price falls until crude oil stabilises.
More bad news for OPEC and the Saudis. Brent prices are down $2.62 (4.27%) today and is $58.68. Same applies to WTI which is also down $2.66 (4.66%) and is at $54.44. It is clear to us that OPEC are clearly worried about pricing and doing all they can to support the oil price without much success. Go to our home page and half way down you’ll see a live market trading position. (Mon-Fri Trading hours)
The #heatingoil price took a dive today (Wed 14th) of $5.85 (3.12%) to $1.8188. This fall could pave the way for lower UK prices which is now dependant on how OPEC reacts to further falls. Today’s prices are very good but we feel they won’t be sustained much past Friday. With demand being traditionally low you may get it your heating oil cheaper and faster. So, before you go on holiday fill your heating oil tanks now as prices are very cheap.
Over the early days of this data set heating oil prices were falling well. On 12th August they began to rise through to 13th August. Today, prices have fallen by 0.06ppl to 49.39ppl (inc vat) and are still 0.62ppl cheaper than 9 days ago. The sharp price rise was a direct result of OPEC trying to stabilise and halt the downward slide of the crude oil price. Momentarily, it looked like it was successful as the heating oil price fell today. At the moment despite some wild peaks and troughs during last month there is a great deal of some uncertainty as to where Crude prices will go from here. We are still expecting very little in the movement in the heating oil price. So stay tuned,
The major deciding factors on prices in the coming weeks will still be the price of crude oil, production cuts, warmer weather and availability of product. Mid East conflicts seem to have abated for the time being. Equally important is a very strong dollar against the pound and euro. The trend is still unsettled for now. 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 0.06ppl to 49.39ppl and average broker prices rose 0.72ppl to 50.61ppl. The difference between average distributor
#heatingoil prices versus average online heating oil broker prices rose today to is 1.22ppl inc vat. This means you can save an average of £6.10 on 500 litres or £12.20 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 prices are up to 50.61ppl 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 53.50ppl followed Tank Topper and in Third place Boilerjuice. Fuel Tool are 6.50ppl more expensive than Direct Oil’s price of 47.00ppl Comparisons were made at the “SO” postcode.
So, do you really want to pay an average of £32.50 more for 500 litres or an average of £65.00 more for a 1000 litres by buying from the most expensive? In the broker category we have seen a low prices of 47.00ppl and highs of 53.50 (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 30th 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. ValueOils is in second place ith Certas Energy in third place. DirectOil also seem to be competing on a much better playing field. One to watch. HomefuelsDire continue to outstrip the competition by being on average 3.88ppl cheaper.
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 by being 3.65ppl cheaper. for over 3 months now!
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 an increase in average UK oil distributor
#heatingoil prices on the week of 0.31ppl finishing at 49.39ppl. Today’s prices are falling once again.
#Scotland average prices rose by 1.60ppl to 53.51ppl.
#Wales average prices rose by 0.33ppl to 48.46ppl
#NorthernIreland average prices rose 0.59ppl to 47.75ppl.
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.