Home heating oil

[Headhurts]

Hi to all,
I wondered if any members have any inside knowledge for the trend in heating oil?

I had an email from Boiler Juice indicating there could be a leap in prices.

I normally try to buy in spring/summer as prices normally drop, I have between 800 to 1000 litres left and this time of year normally consume around 250 litres per month.

Google search does not seem to elicit much help.

What do you think buy now or hold on?

I have been quoted £689.69 (43.79 exc vat per litre) that is for standard delivery by 14th February.

Any thoughts?

 

[renault12ts]

My thoughts...it is actually impossible to advise because you haven't stated how many litres that will buy.

However, I have been quoted £392.07 inc. VAT.

 

[wemorgan]

Crystal ball time.
Summer prices do tend to be a bit cheaper than winter prices. But from my experience the global upward to downward trends are a stronger influence than the seasonal trends.

Prices are still a lot lower than they were say 5yrs ago, so I predict they will continue to rise. So I predict that prices are cheaper now than they will be this summer.

Don't shoot me down when you later prove me wrong!

 

[wemorgan]

I have been quoted £689.69 (43.79 exc vat per litre)


Any thoughts?

My thoughts...it is actually impossible to advise because you haven't stated how many litres that will buy.

He kind of has

 

[renault12ts]

ok...I'm getting 37.10 ex vat.

 

[DSM10000]

Just been quoted £900 inclusive for 2000l

 

[alzieboy]

https://homefuelsdirect.co.uk/

 

[Rory]

Trump only needs to Tweet something adverse and the oil price will surge!

We go tot the US on holiday most years and always agognise about when to change our money. My wife has a solution for such things - she buys half now and half later. I analyse the situation and then decide one way or the other. Almost always I choose the wrong way.

 

[DavidL]

ok...I'm getting 37.10 ex vat.

Where from? Best I can get is 42.50 per litre in wiltshire.

 

[zipdip]

Heating oil prices are down to competition,when I used the stuff,there was 4 local suppliers and so prices were keen,I used to have the capacity to store about 15 months worth and so was able to buy at the cheapest rate be it in the summer mostly,but sometimes at October if we had a indian summer,as regard will the price go up or down,I think there are already a few cracks in opec deal hammered out a month ago,at the moment everybody is fixated with Trump, my gut feeling is I would wait.

 

[Headhurts]

My thoughts...it is actually impossible to advise because you haven't stated how many litres that will buy.

However, I have been quoted £392.07 inc. VAT.

Thanks for your most useful reply.

I put the quote down really as it may have been helpful for others to see the price per litre but that is irrelevant to the post as I was asking if people think the trend is to go up or down.

I am pretty sure on this or the alternative forum are people in the oil business so may have a better idea on trends or forecasting.

 

[Headhurts]

ok...I'm getting 37.10 ex vat.

Wow that is cheap, is that for a huge quantity?

Care to share with whom?

 

[renault12ts]

I'll come clean. That is the price for 1000l...but I live in Belfast. We have very high proportion of homes heated by oil thus the competition has always been stronger than you guys experience.

The most I ever paid for oil was 66p pl inc. VAT in March '13 when you guys were probably about £1.

 

[AndyRan]

42-43ppl for me in Kent

 

[marty359]

I really wish I'd had a larger tank installed when we moved the tank and boiler to different positions a couple of years ago.

I topped it up last October with 800ltrs for £287 and just last week had another 500ltrs for £249 both Inc VAT.

 

[tangey]

I paid 40p inc vat per litre for 900 litres on thursday (I'm in N.I.)

9 months ago I got 900 litres for £244 (27.11p inc vat per litre)

 

[Headhurts]

Thanks for the replies so far.

It seems Ireland get much better pricing than England, is there a reason or is it just what the market will pay?

It's not a fortune but it seems a hard one to call, I would normally wait for spring or summer but the market seems a bit hard to assess at the moment.


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[zipdip]

I think if you have to run oil fired boilers,then you need storage capacity,when I bought the house years ago it had enough for about 8 months,I know it is a cost penalty but I doubled the capacity ,that and increasing the insulation on the place made me fairly bomb proof from price rises,also it gave you peace of mind if there was a shortage for some reason,still you guys in NI are doing well with prices at that level.

 

[Headhurts]

I think if you have to run oil fired boilers,then you need storage capacity,when I bought the house years ago it had enough for about 8 months,I know it is a cost penalty but I doubled the capacity ,that and increasing the insulation on the place made me fairly bomb proof from price rises,also it gave you peace of mind if there was a shortage for some reason,still you guys in NI are doing well with prices at that level.

Yes I agree my tank has a 2500 litre capacity and I have enough to last up to May or early June.

I may well purchase some more as a safeguard against price rises.


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[ShaunB]

I paid £343.98 for 900L yesterday.