Crude and Heating Oil Analysis
Tuesday 10th December . Xmas heating Oil prices rise steeply as the Christmas rush gets under way and delivery slots fill up fast. So fill up get your multiple heating oil quotes and order from the supplioer that has the best prices and available delivery slots.
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 but, they will cut production output in the first quarter of 2020. They have agreed to deepen oil production cuts to 500,000 barrels a day through to March 2020. This brings the total production cut to 1.7 million barrels a day.
Whilst the market responded well by increasing crude prices they have since fallen back.
As we have said in the past, the oil market continues to demonstrate its inability to sustain a much higher price.
Brent price is down $0.96 (0.49%) today and is $63.86. WTI is also down $0.38 (0.64%) and is at $58.64. Colder weather is due again 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)
Wholesale Heating Oil prices are down today up $0.21 (0.11%) to $1.946. 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 reasonably steady but gradually moving up in the last 3 days Current prices are 2.2% or 0.39ppl higher 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 in 2020 will 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 rose to 54.28ppl and average broker prices rose to 54.98ppl. 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 0.70ppl 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 up to 54.98ppl today. You can see from the above graph which brokers are charging the most today. Boilerjuice is highest priced at 60.04ppl, Fuel Tool and Heatringoil follow Boilerjuice is some 10.76ppl higher than its lowest priced competitor.( Always check our Twitter account for updates). 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 30 days up to 30th November 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 HeatingOilClub 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 30 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
This last week has seen UK prices rise steeply. There has been a net increase in the average UK oil distributor
#heatingoil prices on the week of 3.06ppl finishing today at 54.28ppl.
#Scotland average prices rose by 2.90ppl to 52.38ppl.
#Wales average prices rose by 3.13ppl to 53.96ppl
#NorthernIreland average prices rose 3.57ppl to 50.48ppl.
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.