Crude and Heating Oil AnalysisSunday 28th June 2020.
UK Heating oil prices continue to be at a 4 Year low this year as crude prices rise and fall. Crude is hovering around the $38 – $41 mark in part to the Covid-19 pandemic and a successful production cut by OPEC+.
Crude oil prices fell over slightly last week but seem to be in limbo for now. The AA has forecasted a rise in road user fuels following the upsurge to near the $40. Others are saying peak demand for fossil fuels is just 10 years away.
The oil market has now demonstrated its ability to sustain price rallies but, these are now contained to smaller increments. Geopolitical health risk is still prevalent but, the oversupply position is weakening everyday.
Brent prices are down $0.03 (0.07%) today to $41.02. WTI is also down $0.23 (0.59%) to $38.49. OPEC’s price strategy to ward off a collapse in prices is working.
Keep your eye on UK Domestic heating oil prices as prices are low for now. We expect a resurgence in heating oil prices any time now. Request multiple quotes often from heatingoilshop.com. Go to our home page and half way down you’ll see live market trading positions. (Mon-Fri Trading hours)
Market heatingoil prices are down today by $1.93 (1.67%) to $1.1363. As a result of all this market activity, UK Heating Oil prices have constantly fallen over the last 6 days and are still very low by previous years standards .
We have seen a steady fall in UK heating oil prices over the last 6 days. There appears to be some reluctance for prices to fall further. It will be interesting to see if this downward trend continues through the next 7 days. Some regions and local prices are fluctuating as logistics try to cope with supply and demand. Today, average UK prices have dropped just 0.49ppl to 27.70ppl (inc vat) and are 1.36ppl cheaper than 6 days ago. It has been a long time, 4 years since we have seen prices like this so, make the most of it now.
The major key deciding factors on prices in the coming weeks will still be the price of crude oil, availability of product, operational and delivery issues.
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 27.70ppl. Average broker prices are lagging well behind distributors but fell to to 29.79ppl. The difference between average distributor
#heatingoil prices versus average online heating oil broker prices is 2.09ppl inc vat. (See Below). This means you can save an average of £10.45 on 500 litres or £20.90 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 0your 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 today. You can see from the above graph which brokers are charging the most today. Heatingoil website owneed by Certas is at the top of the list today at 31.17ppl. They are followed by Tanktopper and in third place DirectOil. Comparisons were made in the competitive “NR”postcode.
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.
Wise up, Brokers cost more money.
UK Regional Analysis
Over the last 7 days there has been an decrease in the average UK oil distributor
#heatingoil prices on the week of 0.93ppl finishing at 27.705ppl. However, there are indications that prices may fall this week.
#NorthernIreland average prices fell 1.09ppl to 26.28ppl.
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.