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How long will it take for current low oil price to get through to local heating oil price?

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How long will it take for current low oil price to get through to local heating oil price?

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How long will it take for current low oil price to get through to heating oil price at my local oil supplier?
Thanks

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  • dunstonhdunstonh Forumite
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    They already have been.  35p recently (for Suffolk).  That's the cheapest its been in 2 years.  The trend is falling daily currently.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • edited 30 March at 3:17PM
    greatcrestedgreatcrested Forumite
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    edited 30 March at 3:17PM
    prices seem stable for last week or 2 at 33- 34 ppl - considerably down on earlier in the year. When I purchased in early March I paid 28.04 which seems to have been the low point. Whether it will go down further again is anybody's guess but the price has certainly followed world prices more or less.
    But I suggest rather than just calling your " local oil supplier", you shop around, as always; prices can vary widely. Demand is currently high with some suppliers unable to accept further orders (they only have limited numbers of tankers!), and other suppliers limiting their demand by keeping prices higher.


    If I include a blue link in my post, click and read it before posting a follow-up question. The answer may be in the link.

  • smallblueplanetsmallblueplanet Forumite
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    "Brent crude fell to $22.58 (£18.19) a barrel at one point on Monday, its lowest level since November 2002.

    Meanwhile the price of US West Texas Intermediate (WTI) fell below $20 a barrel and close to an 18-year low.

    Oil prices have fallen by more than half during the past month as companies cut back or close production." BBC 30/03

    I'm of the opinion that there isn't enough pressure on companies for them to lower their prices. BJuice just sent an email out saying how they were still open and working hard to fulfil orders, etc. If I were a cynic I'd think they were trying to get me to 'panic buy'! The weather is still cold and people are still worried about supply, when those two ease off then I'm sure prices will fall.
  • greatcrestedgreatcrested Forumite
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    ..... BJuice just sent an email out saying how they were still open and working hard to fulfil orders, etc. If I were a cynic I'd think they were trying to get me to 'panic buy'! ..
    I've never known a time when B/Juice did not have a message saying this was the time to buy......
    If I include a blue link in my post, click and read it before posting a follow-up question. The answer may be in the link.

  • smallblueplanetsmallblueplanet Forumite
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    ..... BJuice just sent an email out saying how they were still open and working hard to fulfil orders, etc. If I were a cynic I'd think they were trying to get me to 'panic buy'! ..
    I've never known a time when B/Juice did not have a message saying this was the time to buy......
    This was phrased differently from the bog-standard 'it's buying weekend'! Petrol prices have dropped, why not heating oil?
  • edited 2 April at 7:59AM
    HasbeenHasbeen Forumite
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    edited 2 April at 7:59AM


    This was phrased differently from the bog-standard 'it's buying weekend'! Petrol prices have dropped, why not heating oil?
    Oil delivered yesterday 32p per litre in lothian region. Driver said rushed of his feet high demand.

    People staying at home heating getting used more.

    Petrol Costco £1 per litre. Petrol stations £1:02, low demand people not using cars.
    The world is not ruined by the wickedness of the wicked, but by the weakness of the good. Napoleon
  • sgunsgun Forumite
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    I got 28p yesterday in the north east. It might go lower but we were happy with the price. I don't think the Saudi/Putin posturing will go on much longer and Trumps already out of the game. Covid is more pertinent to prices anyhow and impossible to predict how devastating it will be. 
  • We belong to the local oil buying co operative. Awaiting delivery in the next few days, all of those who wished to purchase this time have secured a purchase price of 16.9ppl + VAT. The lowest in many a long year!!!!
  • edited 20 May at 11:11AM
    dunstonhdunstonh Forumite
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    edited 20 May at 11:11AM
    16.9p is very good.  I just tried a couple of the usual online sources and was offered 25.75p.      Waiting for the club pricing.
    Boilerjuice is taking the P though.  44.93p on standard delivery.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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