Crude and Heating Oil Analysis
Saturday 7th September 2019. Crude and Heating Oils stage a comeback after struggling to make some impression in the markets earlier in the week.
Average UK heating oil prices have risen steadily in the last 6 days. There are still some late summer bargains out there to be grabbed. We suspect these prices will not continue past the 14th September. Crude Oil prices did stage a small comeback last week but its all fits and startrs at the moment because there is still plenty of product availabe. Tighter production cuts, demand fears, inventory draws and a strong US Dollar are making some small impressions on pricing. The UK distributor and broker heating oil price have risen by small amounts for the week and look to continue upwards to 50.00ppl by the end of the coming week.
Brent prices are up $0.59 (0.97%) today and is $61.54. WTI is up $0.22 (0.39%) and is at $56.52. It is clear to us that OPEC’s price strategy is now possibly starting to work. This is still an important 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 up today by $1.18 (0.62%) to $1.9003. This rise will probably see higher UK prices at the beginning of the week. Today’s prices are still very good but we feel they may rise to 50ppl by 14th September. As we enter the next traditional seasonal price change, demand is now starting to pick up but, using heatingoilshop.com you may get some late summer bargains.
The last 10 days has seen heating oil prices rising regularly from the 2nd onwards. Today, prices have risen by 0.13ppl to 49.39ppl (inc vat) and are still 0.46ppl cheaper than broker prices. So is OPEC’s plan to stabilise and halt the downward slide of the crude oil price? We don’t think so, the small price increases in crude are more down to seasonally driven prices as refineries change their mix for heavier fuel product. We see prices rising over the next week to 50.00ppl and stabilising with minor price changes through to the end of 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.
Now the Brexit thing, although 2 months away, and whether it will happen or not will still impact UK prices. Equally another factor 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 0.16ppl to 49.39ppl and average broker prices fell after being uncompetitive by 0.40ppl to 49.85ppl. The difference between average distributor
#heatingoil prices versus average online heating oil broker prices rose today to is 0.46ppl inc vat. This means you can save an average of £2.30 on 500 litres or £4.60 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 49.85ppl (incvat). Tanktopper is dearer today than Home Fuels Direct by a 4.39ppl, DirectOil is 2nd dearest, & ValueOils who charges delivery and commission is 3rd dearest.
So, do you really want to pay more for your fuel by uising a broker. At today’s rates between the dearest and cheapest you would pay an average of £21.95 more for 500 litres or an average of £43.90 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 52.68 (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 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 decrease in the average UK oil distributor
#heatingoil prices on the week of 0.41ppl which finished up today at 49.39ppl (inc vat). The last three days has seen prices gradually rise.
#Scotland average prices fell by 0.36ppl to 52.82ppl.
#Wales average prices fell by 0.23ppl to 48.96ppl
#NorthernIreland average prices fell 0.63ppl to 46.91ppl.
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.