Heating Oil Price
Friday 22nd January 2016
Oil prices surged 10 percent on Friday, one of the biggest daily rallies ever, as bearish traders who had taken out record short positions scrambled to close them, betting the market's long rout may finally be over.
The onset of a massive snowstorm on the U.S. East Coast sent U.S. heating oil HOc1 up more than 10 percent, helping fuel a 15 percent gain in crude prices over two days that has reversed nearly half of the relentless, fund-driven sell off that had pushed crude below $30 a barrel for the first time in 12 years.
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. Yesterday's rally coupled with the extreme weather on the east coast of the US may see an increase in product prices.
Longer term, we still think there will be increases as winter gets a grip. Get a quote from our many suppliers that are local businesses that need local support.
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
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