Crude and Heating Oil Analysis
Sunday 29th September 2019. With supply recovering and demand growth concerns increasing, price momentum is clearly to the downside. It’s getting close to the way the market was just before the attacks on Saudi Arabia. However, conditions could turn upwards very quickly if there are delays in the repairs of Saudi oil facilities since the market has very low spare capacity at this time. Traders are also watching U.S.-China trade relationswhen they are expected to meet on October 10-11.
We’re still in a news driven market and vulnerable to price swings. If conditions continue to improve between the US and China then the market may find support. On the downside, a failure to reach a trade deal, faster than expected repairs and an easing of tensions in the Middle East then expect prices to fall.
Brent prices are down $0.83 (1.32%) today and are $61.91. WTI is also down $0.50 (0.89%) and is at $55.91. Given the information above, this is an important time to watch prices and we recommend taking full advantage of lower early autumn prices and fill up 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 $1.35 (0.69%) to $1.9416. This fall will hopefully see UK prices falling then stabilising during the coming week. Today’s prices are still very good but we feel they may rise late next week. We are now in the Autumn pricing period where weather, crude prices and political events will affect prices immediately. UK demand is now picking up steadily, but, by using heatingoilshop.com regularly you may get some bargains.
The last 10 days has seen heating oil prices falling steadily by as much as 2.16ppl. They look to fall then stabilise over the next 3 days. Today, prices have fallen by 0.13ppl to 52.52ppl (inc vat) and are still 2.68ppl cheaper than average broker prices of 55.20ppl. Refineries have now changed their mix for heavier fuel product. We could see prices rising mid October as the Saudis complete repairs to the bombed installations and the US/China trade wars work their way to a peaceful position.
There are still plenty of bargains out there to be grabbed. The UK distributor and broker heating oil prices are pretty much stable right now.
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.
Now the Brexit thing, although only 31 days away, it could be an oil price factor and shouldn’t be discounted. Whether it will happen or not will still minimally impact UK prices. 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
Distributor and broker prices have been on the decline for 10 days. Today, average prices for distributors fell 0.13ppl to 52.52ppl and average broker prices fell 0.05ppl to 53.56ppl . The difference between average distributor
#heatingoil prices versus average online heating oil broker prices rose today is 1.04ppl inc vat. This means you can save an average of £5.20 on 500 litres or £10.40 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 fell to 53.56ppl (incvat). Heatingoil.com (Certas Energy) is the dearest today than HeatingOilClub by 4.11ppl, Value Oils is 2nd dearest. They charge delivery fees and now £10.00 in commissions. Fuel Oil is third dearest.
So, do you really want to pay more for your fuel by using a broker. At today’s rates between the dearest and cheapest you would pay an average of £20.55 more for 500 litres or an average of £41.10 more for a 1000 litres by buying from Certas over Heating Oil Club. In the broker category we have seen low prices of 51.09ppl and highs of 55.20 (inc vat). (All prices are dependant on postcode variations). Our records do show that one broker, HomeFuelsDirect is consistently the cheapest. This has been the case, this month, the last quarter and the quarter before.
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 c
ompared 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 decrease in the average UK oil distributor
#heatingoil prices on the week of 1.77ppl which finished up today at 52.52ppl (inc vat). The last seven days has seen prices gradually fall.
#Scotland average prices fell by 0.96ppl to 55.72ppl.
#Wales average prices fell by 1.57ppl to 53.03ppl
#NorthernIreland average prices fell 1.54ppl to 51.19ppl.
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.