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Heating oil price hike

Hi, we live in a rural area of South Somerset and rely on oil for our heating, we ordered with our supplier on 16th February at a cost of 62p per litre, by the 24th February we had run so low on oil, our boiler wouldn't work. Even after telling our supplier that we had no form of heating, we were left without oil for a week, constant promises were made to deliver but, they didn't arrive, my feeling is they would eventually ask us to pay a higher price before they parted with their oil! We managed to find another local company who delivered the next day at a cost of 85p a litre, we checked the price the following day and it had risen to £118! How are we supposed to afford this, we had to use our credit card to pay as we simply didn't have the funds.

Comments

  • dunstonh
    dunstonh Posts: 121,057 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 11 March at 2:42PM

    Leaving it to last minute is never a good idea with oil. Especially if you are not using small local independents but using clubs or online sites.

    Using an independent nearly always costs a bit more, but they deliver quicker and usually look after their regulars during periods of strain.

    Using clubs or price comparison sites brings different risks.

    How are we supposed to afford this, we had to use our credit card to pay as we simply didn't have the funds.

    You have to take the rough and smooth with oil pricing. So, you offset the periods when the price is less than 60p a litre with the periods when it's above.

    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.
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