Average Domestic Heating Oil Price Chart
Heating Oil Prices Updated to including 30th November 2014
Oil futures on Friday settled at their lowest in five years as OPECdecision to keep crude production the same heightened fears that the existing glut in the oil market would persist.
December heating oil (HOZ4) receded 17 cents, or 6.9%, to settle at $2.2308 a gallon on Nymex. That was heating oil's lowest settlement since Oct. 29, 2010, and one that brought monthly losses to 11%. On NYMEX light, sweet crude futures for delivery in January (CLF5) was off $7.54, or 10%, to settle at $66.15 a barrel on Friday.
January Brent crude on London's ICE Futures exchange fell $2.43, or 3.4%, to finish at $70.15 a barrel. That was Brent's lowest settlement since May 25, 2010.
Low oil prices are good news for consumers, who are seeing low retail petrol prices and 5 year lows for heating oil.
So what does this mean for you? With the stabilisation of the cost of crude oil, heating oil prices have reached a plateau. It may be the bottom of the 4 year low heating oil price. Prices, at the moment are still good to go in all areas but now is the time to take advantage of today's lower rates. Buy before 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
Our graph above tells you on a daily basis what the average broker rate is for 1000 litres.
The annual average heating oil price graph below is self explanatory, all prices include VAT at 5% and covers delivery prices from UK heating oil suppliers and 1000 litre broker prices.
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