Should I fill up now or wait?

ripplyuk

My oil tank is half full. Normally I’d order another 500ltrs now but they’re charging around £650 (125-135p per litre). I heard something about how prices will be even worse in April and worse again in October. At this rate I simply won’t be able to have any heat or hot water. 

Would it be best to fill up now or is there likely to be some sort of government intervention to try and lower these astronomical prices? 

Verdigris

Who knows?

Demand and prices generally go down in the summer. If you have enough to last until then it might be worth waiting. Or WW3 might have broken out.

QrizB

I wouldn't rely on government intervention.

How much oil do you expect to use between now and October?

There is a live thread on oil prices here:
https://forums.moneysavingexpert.com/discussion/6340020/oil-prices

Astria

Oil is very volatile at the moment, so it could come down in a few months time, but considering whats happening in russia at the moment it may even double, who knows.

I'd be tempted to put smaller amounts in, unless you are also charged more fees on top of the per litre amount.

ripplyuk

QrizB said:

I wouldn't rely on government intervention.

How much oil do you expect to use between now and October?

There is a live thread on oil prices here:
https://forums.moneysavingexpert.com/discussion/6340020/oil-prices

I might be able to stretch out what’s left until the end of summer, but only if I use the immersion heater for hot water instead. I don’t know if that’s any better since electricity prices are so high now too. 

coffeehound

Astria said:

I'd be tempted to put smaller amounts in, unless you are also charged more fees on top of the per litre amount.

Yes, a true hedge would be to buy half as much as you were going to