Crude and Heating Oil Analysis
Tuesday 12th November 2019 and UK Heating Oil prices have been stable for the last 4 day after rising 2.08%. This also coincided with a gentle rise in crude oil prices.
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. Weak demand still dominates, and over supply looms. Brent is above $60 again and OPEC hopes to be able to push prices higher when it review its production output policy. So, heating oil prices could rise significantly just before Christmas.
Brent price is up $0.39 (0.63%) today and is $62.57. WTI is also up $0.33 (0.58%) and is at $57.19. October was a quiet month for UK Domestic heating oil purchases and November has started off the same. The colder weather is starting to make an impact now and with Christmas looming keep an eye on pricing and 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)
Heating Oil prices are up today by $0.15 (0.08%) to $1.9157. As a result, we have seen average UK heating oil market prices still remaining stable. We do feel that they have reached their optimum price for the time being and will start to rise further as colder weather arrives.
Over the last 10 days heating oil prices have been quite low in comparison with the same time last year. Current prices some 12% lower than this time last year. Prices have bee stable for the last 4 days and hovering at the 50.06ppl (inc vat) level and are 1.49ppl dearer than 10 days ago. We see prices rising because of the Christmas rush and OPEC’s desire to decrease production.
Major deciding factors on prices in the coming weeks will still be the price of crude oil, and further OPEC production cuts, colder weather and availability of product!
The general election result could have marked reaction depending on who wins. A weaker pound would definitely put up prices. 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 remained at 50.06ppl and average broker prices fell 1.39ppl to 50.60ppl. The difference between average distributor
#heatingoil prices versus average online heating oil broker prices is 0.54ppl inc vat. This means you can save an average of £2.70 on 500 litres or £5.40 on a 1000 litres buying from a distributor. This does 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 be discriminating certain postcodes or days of the week.
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 50.60ppl today. You can see from the above graph which brokers are charging the most today. Today, DirectOil, the online arm of Watson Fuels has been dominating the broker list for 3 weeks now with higher heating oil pricing at 58.04ppl (incvat) some 5.93ppl than its lowest priced competitor. To be fair their has been a considerable improvement in their pricing which has been riduculously uncompetitive! Boilerjuice, once the cheapest of brokers, have increased their prices by introducing 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.
It’s common sense to steer away from brokers with higher pricing, commission charges and delivery charges. 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 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
Over the last 7 days there has been an increase in the average UK oil distributor
#heatingoil prices on the week of 1.11ppl finishing at 50.06ppl.
#Scotland average prices rose by 0.12ppl to 51.03ppl.
#Wales average prices rose by 0.64ppl to 49.77ppl
#NorthernIreland average prices fell 0.26ppl to 46.52ppl.
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.