Crude and Heating Oil Analysis
Thursday 28th November 2019 . UK Heating Oil prices have been up and down this last 10 days with them settling back. So fill up order your heating oil tank now.
Weak demand still dominates, and over supply looms. There is an oil glut building up for the first half of 2020 , This is causing OPEC problems as they try to balance the oil market. However, it looks like the Russians are not yet quite ready to support a production cut. It is reported that some analysts see the world dodging a recession next year, which provides some upward room for oil prices. The surplus is building primarily because of a steep drop in demand growth this year.
As we have said in the past, the oil market continues to demonstrate its inability to sustain a much higher price. However, OPEC is receiving pressure from its members to increase production cuts at its next meeting in Vienna on 5th December. Brent is precariously above $60 again and OPEC hopes to push prices higher when it reviews its production output policy. So, heating oil prices could rise significantly just before Christmas.
Brent price is down $0.43 (0.67%) today and is $63.63. WTI is also down $0.17 (0.29%) and is at $57.94. Colder weather is due next week and with Christmas looming keep an eye on pricing. Request multiple quotes often from heatingoilshop.com to keep in touch with price movements . Go to our home page and half way down you’ll see live market trading positions. (Mon-Fri Trading hours)
Heating Oil prices are down today up $0.21 (0.11%) to $1.9486. However, we have seen the average UK heating oil market trend steadily rise. Christmas is looming and we do expect prices to rise further and delivery slots to become fully booked.
Over the last 10 days heating oil prices have been quite steadily moving up every second day but dramatically falling today to it’s lower level in 10 days. Current prices are 4.6% or 2.26ppl lower than this time last year. We still see prices rising as we near Christmas. The weather, product availability and OPEC’s desire to decrease production will also be a major influence on prices.
The general election result could have a marked reaction on heating oil prices depending on who wins. Brexit will without doubt impact UK prices. 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 to 49.00ppl and average broker prices fell to 49.46ppl. We do not see heating oil prices going lower before Christmas. The difference between average distributor
#heatingoil prices versus average online heating oil broker prices is 0.46ppl inc vat. Price differences will fluctuate between broker and distributor and depends on your postcode and other charges made by brokers.
We have seen a worrying trend by some brokers who have put up commission and delivery charges and discriminating certain postcodes or days of the week with high delivery charges.
Our advice is to thoroughly check the broker quote you are given for hidden charges. 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 down to 49.46ppl today. You can see from the above graph which brokers are charging the most today. TankTopper, part of Craggs Energy Group is the higher priced at 51.74ppl (incvat) some 3.99ppl higher than its lowest priced competitor.( Always check our Twitter account for updates). Direct Oil and Fuel Tool also have above average pricing. Boilerjuice have introduced ad hoc delivery charges on random/certain postcodes. The shorter the period the more you will pay. You will still pay their “fund our website” fee of £3.49 though.
It’s common sense to steer away from brokers especially at this time of year with higher pricing, commission charges and delivery charges and poor delivery guarantees. 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
During, the last 31 days up to 31st October 2019, we have sourced broker prices at the same daily random postcodes. In the above graph you can see which heating oil Brokers have performed consistently well or not so well over the month as regards pricing. These are the average prices achieved during the 31 day peioid by each broker. DirectOils leads the month as bing the most expensive on average. HomefuelsDirect continue to outstrip the competition by being on average 4.59ppl cheaper than the most expensive.
At the moment HomeFuels Direct remains the most consistently well and low priced broker for 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
The last week has seen UK prices up and down like a yoyo. However, there has been a net decrease in the average UK oil distributor
#heatingoil prices on the week of 0.21ppl finishing today at 49.00ppl. However, the overall trend is moving up. Take advantage of pre-Christmas prices now before delivery slots fill up
#Scotland average prices fell by 1.19ppl to 50.55ppl.
#Wales average prices fell by 0.79ppl to 48.47ppl
#NorthernIreland average prices fell 0.18ppl to 46.98ppl.
There is a likelihood For current price trends to change as we near Christmas and delivery slots are harder to come by. Head on over to heatingoilshop.com and get multiple #heatingoilquotes from suppliers to your area and do it asap.
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.