Oil prices

What’s everyone’s view on oil prices continuing to go up ? I know we all need a crystal ball 😫 we are getting really low on heating oil , normally we would hang on for another month or so for prices to come down. The price is ridiculous at the moment, we just don’t know what to do?! 
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  • ispookie666
    ispookie666 Posts: 1,174
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    Just hit £1/L.  Some traders are making a killing. 
    I'm hoping this would be it! 
    “Don't raise your voice, improve your argument." - Desmond Tutu

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  • t3rm3y
    t3rm3y Posts: 141
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    It's horrible, we can't afford 1/l . I was hoping it would start to go down, as I understand it , the price is dictated by demand, the more people ordering pushes the price up, not that there is a lack of oil. But it's 3x the normal price and I can't wait another 2 months or so. It's just greed by the oil sellers. Pricing should be reversed - more oil being ordered drops the price and less oil ordered (warmer months) price is up.
  • annabanana82
    annabanana82 Posts: 2,942
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    Boiler Juice is quoting me 128.99ppl! 
    I was briefed in work this week that they were expecting oil prices to settle in 4-6 weeks, I would considered this to be a fairly reliable source, however external influences are unpredictable to say the least at the moment. 

    I'm holding half a tank at the moment, if prices fall back to <80ppl I think I'll fill up  otherwise I'll bide my time and hope for the best. 
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  • griffb
    griffb Posts: 168
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    Boiler Juice is quoting me 128.99ppl! 

    Same here, just ordered from local supplier (Goff Petroleum) at 96.45p/l excl vat (NRG were 100.71p/l, Bedford Fuels 116.5p/l). Curiously The Oil-Cub are also quoting 96.45p/l but then they do have a Mr Goff on the board!


  • lohr500
    lohr500 Posts: 920
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    Must be area specific. Just got a quote from one of my usual local suppliers for 1500litres in a small 4 wheel tanker.

    86.01p/l exc. VAT. 

    I ordered 1500 litres on 10/01/2022 and it cost me 54.72p/l. So quite a hike  :(

    I don't need any more oil right now, but I am watching the pricing closely. I hope the information annabanana82 heard this week is correct and prices do settle down in 4 - 6 weeks. 

    We need some warmer weather soon so that the heating isn't working as hard!! Currently using circa 15 litres per day for heating and hot water. In comparison, through the summer with no heating, the consumption drops to below 2 litres per day. 
  • Thanks guys , it’s all very worrying what with electric going up as well. The thing is March and April can still be very cold months 😫 fingers crossed for a warm spring 
  • Jaybee_16
    Jaybee_16 Posts: 417
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    Just checked Boiler Juice for my area and I get 'Due to the high demand we are unable to supply your area'
  • oh goodness, this is my other worry , what happens if you can’t get any ?!! 
  • dunstonh
    dunstonh Posts: 115,616
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    oh goodness, this is my other worry , what happens if you can’t get any ?!! 
    You bite the bullet and use a local supplier.   Our local supplier is automatically next day delivery.  But he cannot compete with the cheaper suppliers.   However, he always prioritises the existing customers over new ones. 
    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.
  • Jaybee_16
    Jaybee_16 Posts: 417
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    oh goodness, this is my other worry , what happens if you can’t get any ?!! 
    When I filled my tank a month or so ago, I Googled around local suppliers, Boiler Juice, and local oil club.

    Local supplier was only 0.5p per litre higher than Boiler Juice and oil club was 10p per litre dearer. Went with local provider.
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