Understanding Heating Oil Prices in the UK
The price of heating oil in the UK can fluctuate daily due to several key factors. Here’s what you need to know about what affects heating oil prices and how you can save money.
What Affects Heating Oil Prices?
1. Weather Events
Extreme weather events, such as cold snaps and winter storms, can dramatically increase heating oil prices. During these times, demand for heating oil rises sharply as people stock up and use more fuel.
Additionally, severe weather can make deliveries and access more challenging, further driving up costs.
2. Changing Seasons
Heating oil demand typically peaks between October and March when temperatures drop, and homes require more heating. Conversely, demand decreases during the warmer months.
Planning your purchase to align with seasonal changes can help you secure the best heating oil prices.
3. Distribution & Delivery Costs
The cost of delivering heating oil depends on your location relative to the nearest depot and the accessibility of your property. Rural areas may face higher delivery costs.
4. Global, National & Local Supply
Oil supply is influenced by factors ranging from local weather conditions to international political events. A global shortage of oil production can increase import costs, which trickles down to local heating oil prices.
5. Crude Oil Prices
Heating oil, or kerosene, is refined from crude oil, making its price directly tied to crude oil production levels. If the price of crude oil rises, heating oil costs will also increase.
Heating Oil Prices at The Heating Oil People
We monitor heating oil prices daily to ensure you get the best possible deal. By sourcing fuel directly from leading oil terminals, we can:
- Guarantee a steady supply.
- Provide high-quality heating oil.
- Offer competitive prices.
Ready to Order?
If you’d like to discuss your home heating requirements, get in touch with our team. Call us on 01691 664610—our friendly staff are always here to help.