Oil Prices

HillStreetBlues

Just looking at https://tradingeconomics.com/commodity/heating-oil  and my past oil buying

When i bought heating oil in 2011 it was trading at over $3 a gallon, now it's trading at  under $2.50 a gallon,  yet I'm being charged the same price per litre.

CliveOfIndia

What was the USD/GBP exchange rate in 2011 compared to now?  Oil is always traded in USD, so the exchange rate between USD and local currency has a big impact on the price you pay (whichever country you're in).

Obviously there are many other factors that affect the price a consumer pays - but USD exchange rates can have a massive impact.

QrizB

As well as exchange rate issues, the US heating oil market is only loosely coupled to the UK one. Looking at a US index is not particularly illuminating.

Trading Economics carries at least three diffeernt natural gas indices, but I don't know if it has a UK or Eurozone one for heating oil.

HillStreetBlues

Totally forget about the exchange rate!  My excuse (not much of one) was it was late!

HillStreetBlues

So to answer my own question, 
I'm being charged the same price (PPL) as the price in Sterling for heating oil is the same in 2011 & 2023  (£2 a gallon)