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why isnt heating oil falling as the world price of oil has fallen dramatically

ann_123
ann_123 Posts: 2 Newbie
in LPG, heating oil, solid & other fuels
why isnt heating oil falling as the owrld price of oil is falling, is it due to restriction of stocks from the refinery thus creating supply demand constraints, any comments

Comments

  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    ann_123 wrote: »
    why isnt heating oil falling as the owrld price of oil is falling, is it due to restriction of stocks from the refinery thus creating supply demand constraints, any comments
    It is falling...From a high of 64 pence per litre in March to 58 pence per litre today. 10% fall. The London Brent crude price has fallen from $126 a barrel in March to $109 today. 13.5% fall. As the price of heating oil is about a month behind the price of wholesale crude then it will fall a little further.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • gamston
    gamston Posts: 694 Forumite
    Part of the Furniture 500 Posts
    hope it does fall back, need to fill the tank soon
  • WaxiesDargle
    WaxiesDargle Posts: 1,062 Forumite
    I got 55p a litre today
  • smcqis
    smcqis Posts: 862 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Thats good price, best I can get at min is about 56.44p
  • tanit
    tanit Posts: 39 Forumite
    The price has fallen recently but I guarantee it will rise as the colder weather sets in which up her in Scotland starts anytime soon.
    We usually try to fill our tank before September time as thats the month the companies start to increase prices.
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