Average Domestic Heating Oil Price Chart
Heating Oil Prices Updated to including 6th October 2015
Oil prices rose Monday due to a weaker dollar and a drop in Midwest gasoline supplies and a drop in U.S. production capacity.
Oil prices have plunged in the past year owing to a global over supply of crude, which has forced producers to lower prices to attract buyers and put large amounts of oil in storage. While demand has climbed this year and U.S. output has started to fall from recent highs, analysts say the surplus of crude is likely to persist into next year.
Light, sweet crude for November delivery settled up 72 cents, or 1.6%, to $46.26 a barrel on the New York Mercantile Exchange.
Brent, the global benchmark, rose $1.12, or 2.3%, to $49.25 a barrel on ICE Futures Europe.
Sunday, Saudi Arabia made big reductions to the prices it charges for its oil as OPEC members strive to keep a share of the growing markets in Asia. We think production will continue to outpace demand and further depress oil prices, which have shed about half of their value since last summer.
So what does this mean for you? Prices, at the moment are still very good to go in all areas but now is the time to take advantage of today's lower rates. We still think there will be increases as winter gets a grip. The lower prices are not going to be around much longer.
Always use heatingoilshop.com to qet multiple quotes from supppliers to your postcode.
Choose your supplier carefully. We recommend you not to buy from brokers unless you can afford their prices, wait for your delivery and not know who is making the delivery.
We highly recommend you buy from a local heating oil supplier and use our website to get free quotes from suppliers to your area. Quotes are free and we do not receive commissions from suppliers.
With fuel poverty on the increase you need to look at all your options and look for the best price with the best service. Heatingoilshop.com will help you achieve competitive pricing by getting quote requests out to all suppliers free of charge. We do not charge suppliers or customers for this service.
Buying direct from a heating oil supplier is your best choice as heating oil brokers can and do charge a premium of between 1p and 5p per litre for doing "the leg work". Since 19/12/2011 the average commission charge is 2.4 ppl above a local heating supplier, higher in winter and lower in summer
|Help us by keeping this website free by clicking on any of the links below that may be of interest|