Anyone got a crystal ball? Oil prices

strawb_shortcake

We're down to quarter tank, approx 300ltrs. 
Can't decide to buy now and accept current prices cheapest I can get is 92.72ppl or hold off a few weeks on the off chance? 

Was going to order 750ltrs which will easily see us into next Spring and have the money to cover, but I also like a good deal and will be annoyed if prices fall in the next couple of weeks.

Not desperate for oil either, but can't keep putting it off either.

What's everyone else's strategy?

lohr500

I bit the bullet and filled our tank a few months ago.
But despite the pessimism that is around, the signals would suggest that oil prices could continue to fall.

 https://www.theguardian.com/business/live/2022/aug/15/oil-price-china-economy-covid-19-ftse-100-oil-prices-brent-wti-business-live

I think if I was in your shoes, I would hold back for a few weeks and see if the price drops further. But perhaps set a trigger at £0.95 if it increases and order if it hits that figure. You may end up kicking yourself if it drops again, but who knows where it may go. 

dunstonh

Crude oil is down 2.59% today. This is on the back of a report saying that OPEC doesn't intend to cut production.  Oil futures are down 9.2% over August and its the third month in the row that has happened.   Slowing economic growth with ongoing lockdowns in China and Libya back supplying indicate it will head lower.  The real problem for us, though is the exchange rate.

strawb_shortcake

Thanks both, I shall hold off for time being and continue to monitor prices daily.

Jaybee_16

Received an email from Boiler Juice yesterday informing me that the price has increased 5ppl this week. I'm holding on in the hope the price may drop.

strawb_shortcake

Jaybee_16 said:

Received an email from Boiler Juice yesterday informing me that the price has increased 5ppl this week. I'm holding on in the hope the price may drop.

I had an email yesterday telling me they were working hard with suppliers to offer a super low pay day offer for one day only. They are 1ppl cheaper cheaper today.