Current Home Heating Oil Prices - Still Far Too High

Ebe_Scrooge

smallblueplanet said:

Ebe_Scrooge said:

But the point about saving up and buying 1000 litres at a time rather than 500 is still very valid.  You can't influence the wholesale price of oil, but you can influence - to a small degree - the price you pay by buying in bulk.  Also by buying when demand is lower (typically the summer).  I fully appreciate that most people can't influence when they buy - if you need oil, you need oil.  But if you're in a situation where you have a large enough reserve, it's something to consider.

Must admit I've toyed with the idea of buying an extra tank, the theory being that if I could buy enough in summer to last me all year then I could save quite a bit.  Not sure if the savings would offset the cost of an additional tank, but that's a different discussion!

Whilst saving up for 1000l of oil is easy to say, the reality, especially in current circumstances is very different. There are many people having to choose between heat or food! Quite unbelievable really.

Another thing that stops me buying 1000l is that there have been oil thefts in this area. Yes I know about security - they did too but nothing stopped the thieves!

I can only presume that most are happy with the current pricing of oil. I'm not.

Please, may I first emphasise that I'm in no way arguing with you.  Simply trying to offer some (hopefully!) constructive comments.

To address your comments:  Oil thefts - yes, I can fully appreciate that this is a huge concern for any of us that use oil.  You can take certain measures to deter thieves, but it's very difficult to stop a determined thief.

Saving up to bulk buy.  Putting aside the theft issue (not easy for everyone, I know), you have a pretty good idea of how much you use each year.  If, for the sake of argument, you use 2000 litres per year, then you can buy 2 lots of 1000 litres or 4 lots of 500 litres.  You've still got to buy 2000 litres per year, come what may, so surely it makes sense to put aside an amount each month, buy 1000 litres at a time, and save yourself money overall?

People happy with the price of oil.  Well, as we all know, it fluctuates on a daily basis.  In the years I've lived at my current house, I've seen it fluctuate from 25 ppl to 90 ppl - I wish it were back at the price it was towards the start of the pandemic!  But it's still on a par (maybe even cheaper ????) than mains gas, in terms of cost per KWH.

ccluedo

I'm concerned about oil theft as well. I looked at cap locks etc but a tank supplier advised against. In their experience with plastic (bunded and unbunded) tanks not immediately next to property, a determined thief would just drill thru quietly and it would end up costing u a lot more. 
Their suggestion was to get hold of a damaged or broken gauge and leave it permanently showing less than a couple of hundred litres. 
This wouldn't make it worth the risk/hassle in their opinion. 

Ebe_Scrooge

ccluedo said:

I'm concerned about oil theft as well. I looked at cap locks etc but a tank supplier advised against. In their experience with plastic (bunded and unbunded) tanks not immediately next to property, a determined thief would just drill thru quietly and it would end up costing u a lot more. 
Their suggestion was to get hold of a damaged or broken gauge and leave it permanently showing less than a couple of hundred litres. 
This wouldn't make it worth the risk/hassle in their opinion. 

Our local village hall has a steel mesh cage around their tank.  It does mean you need to be in when a delivery arrives, to undo the padlock for them.  But it's a deterrent.  Of course, if there are no houses nearby then the deterrent effect is perhaps reduced - a thief could just use bolt croppers or an angle grinder to cut through the padlock, without fear of being seen.  But equally, they might not bother, and just try a different oil tank that has easier access.....

smallblueplanet

Ebe_Scrooge said:

Please, may I first emphasise that I'm in no way arguing with you.  Simply trying to offer some (hopefully!) constructive comments...

I appreciate your effort. But like you I've been watching oil prices rise and fall for over 18 years. I've a reasonable grasp of getting competitive quotes but still don't see how the sudden price rise can be justified. Do gas/electricity users pay more over Christmas? Well with the rise of smart meters they soon might do so! 

Anyway I posted on this thread about oil prices 'still being far too high' because I wanted to agree and have a rant. I wanted to point out what I saw as a particularly 'inexcusible' example of price increases. I've seen pieces in the press and on BBC website about the fact that petrol prices are 'far too high' compared with the price of oil, and would hope some might comment about heating oil, but no.

By the by, the people who had their oil stolen, after locks didn't work have surrounded their tank with a 6ft fence and have CCTV set up, not something I wanted.

Mister_G

Well, you could always change over to LPG.  Currently cheaper than oil per kWh and for some unknown reason nobody tries to nick it! 

kassy64

Mister_G said:

Well, you could always change over to LPG.  Currently cheaper than oil per kWh and for some unknown reason nobody tries to nick it! 

Hadn't really thought of LPG theft but presume it could be done, is it pressurised and therefore harder to steal. My tank is an underground tank and buried in the garden with just the lid visible (which is green) so hopefully harder to spot from anyone passing by. There must be a black market for stolen oil/gas where do they offload it, do you buy it from a guy down the pub?
With current prices if my tank is full of LPG its value is in the region of £1,000 !!!

MattMattMattUK

kassy64 said:

Mister_G said:

Well, you could always change over to LPG.  Currently cheaper than oil per kWh and for some unknown reason nobody tries to nick it! 

Hadn't really thought of LPG theft but presume it could be done, is it pressurised and therefore harder to steal. My tank is an underground tank and buried in the garden with just the lid visible (which is green) so hopefully harder to spot from anyone passing by. There must be a black market for stolen oil/gas where do they offload it, do you buy it from a guy down the pub?
With current prices if my tank is full of LPG its value is in the region of £1,000 !!!

It could be done, but it would be cost prohibitive. Oil can be stolen with a small pump some hoses and a plastic tank in the back of a pickup, gas requires the correct equipment, a specialist high pressure pump, a pressure safe storage tank and knowledge of how to access the tank properly, most tanks are designed to let gas in one way (the refill valve) and out another way (the out pipe to the property). When it comes to an oil they can just drill a hole in the tank if they want to, with gas if they do that it is not going to help. So whilst it is theoretically possible, it is not worth the investment in equipment or the risk of blowing themselves up, especially when they can steal the low hanging fruit that is oil.

propertyrental

You said "Glad you can afford 1000l on refill. ...." and I responded to that remark.

I did not advocate a DD scheme with an oil supplier. I too would never tie myself to one company. I advocated saving monthly in your own account so as to have the money topay for a bulk purchase (whether that be for 500 or 1000 or whatever.

I mentioned gas because monthly payments are the norm for them so why should it be different for oil users, or harder for an oil user to save monthly than a gas user to pay monthly? 

Yes, it's hard to save these days. But it's hard to pay too. Gas or oil, prices are higher than earlier years.

But your implied claim that a bulk purchase (1000l on refill) is a problem is simply a failure to plan ahead following months of paying nothing for your oil.

Now as for whether current prices are justified I'm not an economist so will not comment save to say it's a fact of life. Do what you can to minimise your costs (shop around, don't tie yourself to a single supplier etc) and sharetips with others.

If you want to influence/protest the prices, do so somewhere where that protest can be acted on eg your MP

smallblueplanet

propertyrental said:

If you want to influence/protest the prices, do so somewhere where that protest can be acted on eg your MP

Whatever.