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  • FIRST POST
    Xbert
    Target price for domestic heating oil
    • #1
    • 1st Feb 05, 5:09 PM
    Target price for domestic heating oil 1st Feb 05 at 5:09 PM
    Insert From Martin

    Where to find the cheapest fuel oil isn't easy. While gas & electricity price comparison services are common place, the same isn't true for fuel-oiled heating.

    The discussion that follows is a merger or two that contained much information. The answer seems to be 'get lots of quotes, and don't believe the hype'.

    In the third message of this discussion you will see a list of comparison sites, and then in the sixth a press release from a newly launched company. Please do enter the discussion, hopefully together as collective MoneySavers we'll find a solution.

    Our fully researched Cheap Heating Oil guide may also be helpful.

    Martin

    _______________________________________

    Original Post below....



    I posted this first in the 'I wanna ..' forum, this looks more appropriate.
    First price is 24p/litre last week in Cornwall. I'm going to start getting some quotes for myself. If people think it's useful I'll put them up here. I know the suppliers respond to the spot market for oil, but at least some idea of what the going rate is might be useful to somebody, somewhere!

    Quotes will be for 1000 litres of standard 28ps heating oil, excluding VAT.

    Target price for domestic heating oil
    Does anybody know where to find target prices for domestic heating oil (1000 litres of 28ps)? It's pretty unrewarding phoning around all the distrbutors and the boilerjuice and greenwelly (yes really!) websites both returned prices that were worse than I could get straight off the bat.
    It's hard to believe that in this day and age of consumer regulation up the Ying-Yang there appears to be none that applies to heating oil.

    Thanks.

    First post so please be gentle with me!
    Last edited by Former MSE Zorica; 19-02-2014 at 1:14 PM.
Page 50
    • G_M
    • By G_M 9th Mar 18, 11:10 PM
    • 46,220 Posts
    • 55,976 Thanks
    G_M
    Prices jumped during the Beast from the East.

    They were rising slightly before the snow hit (45ish to 49ish), then way up to 59. Ouch!

    It's demand driven and profit-taking, as world wholesale prices have actually fallen....


    • A. Badger
    • By A. Badger 12th Mar 18, 12:54 PM
    • 5,252 Posts
    • 6,648 Thanks
    A. Badger
    Just out of interest, I thought I'd see what the bandits are charging for oil this week, now that the cold spell has passed. It turns out that neither Boilerjuice nor Homefuelsdirect are offering quotes at the moment for my area (Kent) because of high demand.

    I can wait until they need to compete again.
    • Begsey
    • By Begsey 13th Mar 18, 10:54 PM
    • 78 Posts
    • 39 Thanks
    Begsey
    Paid 47.67ppl inc vat for 1000 litres when the snow was at it's worst. They couldn't get through for 3 days though, due to the snow.
    That was a good 3 or 4 ppl cheaper than I could get it from anywhere else, including via local buying groups.
    Some of the sites were even more expensive if you wanted it within a couple of days.
    If you're in Central Scotland, Bilsland is worth a call for a quote, 3 tankfuls now, they've been cheapest for us each time.
    • G_M
    • By G_M 23rd Mar 18, 5:08 PM
    • 46,220 Posts
    • 55,976 Thanks
    G_M
    Prices vary hugely at present.

    Cheapest today (midlands) was 47.23 from https://theheatingoilclub.co.uk/

    Most expensive was 59.89 from https://www.boilerjuice.com/

    with various prices in between
    • A. Badger
    • By A. Badger 29th Jun 18, 7:17 PM
    • 5,252 Posts
    • 6,648 Thanks
    A. Badger
    Received an email marketing shot from Boiler Juice today, suggesting oil is about to increase in price.

    My first reaction was: 'that means it's about to go down'. My second reaction was: 'that means it's about to go down'.

    But is it? Anyone got an informed opinion?
    • fyr
    • By fyr 30th Jun 18, 8:23 AM
    • 53 Posts
    • 27 Thanks
    fyr
    A useful reference for pricing:
    http://www.mychieveley.co.uk/index.php?page=50
    Gel
    • G_M
    • By G_M 14th Jul 18, 4:53 PM
    • 46,220 Posts
    • 55,976 Thanks
    G_M
    A useful reference for pricing:
    http://www.mychieveley.co.uk/index.php?page=50
    Originally posted by fyr
    There are dozens of online companies, re-sellers, clubs which give instant pricing.

    More interestingly, my own club commented yesterday on current price trends as follows:
    The price of crude dropped by over $4 a barrel this week as Libya re-opens 4 ports to oil exports, increasing supply and surprising the markets.

    In grouping this week's orders we ...have secured a rate, and our club's group oil order terms for this weekend are as follows:

    Rate: 0.4795 (pence per litre excluding vat [5% for Domestic use]. There are no surcharges or admin fees)
    so I'm hanging on for further drops.......
    Last edited by G_M; 14-07-2018 at 4:55 PM.
    • A. Badger
    • By A. Badger 14th Jul 18, 9:25 PM
    • 5,252 Posts
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    A. Badger
    I'm getting a little suspicious about these 'oil clubs' - mine used almost identical wording in their Saturday morning epistle. Could it be that they take their lead from oil companies? I wouldn't be at alll susprised.

    What seems to have happened is that prices took a real and unexpected tumble. In response, Boilerjuice had the barefaced cheek to describe that as 'volatility' and suggest customers buy now. Said local oil club wasn't much less brazen, having also advised the same 'buy now' policy the week before! A 'sorry, we got it wrong' would have been more appropriate.

    I, too, am hanging on.
    • G_M
    • By G_M 15th Jul 18, 7:57 AM
    • 46,220 Posts
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    G_M
    You're right A.Badger. I have never, never, seen an oil company, buying club, or commercial group buying company (eg boilerjuice etc) recommend 'Wait and buy later'.


    Another suspicion about buying clubs - don't assume because of their blurb (local group buying power, no admin costs etc etc) that they are cheaper than ordering direct.


    Don't assume anything. Always compare & always haggle - it's the only way to get the best price.


    A largish local club to me is run by an individual. It transpires he gets free oil from some companies for directing group orders to them. I've only once ordered via them as I've always been able to beat his price by ringing round myself.


    'Annoying' does not cover it.
    • Cottage Economy
    • By Cottage Economy 10th Aug 18, 1:35 PM
    • 988 Posts
    • 4,095 Thanks
    Cottage Economy
    Originally posted this a few days ago by error over on the LPG thread so apologies if anyone has read this and it seems familiar!

    Went to do my usual annual Summer order of oil to be quoted by Boilerjuice a horrific 48.95p/l.

    I don't know whether to buy a minimal 500 litres and get the rest later if it comes down in price or bite the bullet, ring round Lincolnshire and beyond to try and get a few pennies off the whole 2000.

    Disappointing.

    Last year I paid 660 to fill the tank. Now I'm looking at 1030.
    'Save 12k in 2016' 4,000/4,000 (100%)
    'Save 12k in 2017' 6,000/6,000 (100%)
    'Save 12k in 2018' 0/7,000 (0%)

    "...success in personal finance isn't about mastering the technicalities. It is about mastering yourself."
    • A. Badger
    • By A. Badger 10th Aug 18, 8:53 PM
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    • 6,648 Thanks
    A. Badger
    Boilerjuice's prices can almost always be beaten. Homefuelsdirect is usually cheaper, to name just one. Also watch Boilerjuice's sneaky 'admin charge'.

    The government makes it illegal to charge extra if a customer pays by credit card, so Boilerjuice calls it an admin fee!

    I'm resigned to the fact that the Pound being deliberately talked down by Carney and the oil companies knowing they can get away with it means we're unlikely to do better than about 47p per litre at the moment, so when I can get it down to that, I will reluctantly place an order. Almost certainly it won't be with Boilerjuice.
    • sheep-ali
    • By sheep-ali 12th Aug 18, 8:00 AM
    • 560 Posts
    • 602 Thanks
    sheep-ali
    Last week, my neighbour paid 53p + vat per litre for 500 litres. We are SW Scotland and that price seem exorbitant at this time of year.
    • G_M
    • By G_M 17th Aug 18, 11:06 PM
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    G_M
    My oil club scheme:


    The Pound continues to struggle on no Brexit deal fears, falling below $1.28 to the pound. However crude has edged down further, dropping below $72 a barrel and offsetting any potential increase in the cost of Kerosene which remains similar to last week.
    Rate: 0.4724
    • A. Badger
    • By A. Badger 18th Aug 18, 10:55 AM
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    A. Badger
    Mine had almost identical wording. Either we use the same 'club' or they are simply cutting and pasting from oil company handouts (which is my bet).

    Earlier this week, I checked Homefueldirect's price, then called my local company of choice, who beat HFD's price, so got the order at a fraction over my target 47p.

    Boilerjuice were way over the target price, as usual, never mind their 'booking fee' fiddle.
    • G_M
    • By G_M 18th Aug 18, 6:03 PM
    • 46,220 Posts
    • 55,976 Thanks
    G_M
    Yeah so world oil prices have dropped but that's offset by the pound dropping so kerosene prices have basically stuck around 47 for months now.

    The questions for the next few months (ie whether/when to top up) are

    * will a war or crisis somewhere push world oil prices up again
    * will the pound recover, reducing kerosene prices (or vice verse)
    * will demand increase as the summer ends (raising kerosene prices)

    and ..... do I feel lucky!?
    • A. Badger
    • By A. Badger 18th Aug 18, 9:01 PM
    • 5,252 Posts
    • 6,648 Thanks
    A. Badger
    Well, as I said, I decided to buy 1,000 litres now. Last year I hung on into August as prices hadn't really come down a lot, despite the mythical 'summer price drop'. I mistimed it and ended-up paying more by leaving it until late August.

    I have a hunch that some people return from their summer holidays and just buy, whatever the price, so the oil suppliers don't feel the need to reduce prices to keep their businesses ticking over, as they do in July.

    But who really knows? There are too many games being played (and not just by the oil producers) to make reliable predictions.
    • HamburgerHilll
    • By HamburgerHilll 28th Aug 18, 12:09 PM
    • 23 Posts
    • 27 Thanks
    HamburgerHilll
    Just came across this thread - we moved to an old cottage in West Berkshire last July which uses heating oil and have so far paid anywhere from 0.4199 up to 0.53 a litre via a 'local' club. (Ex vat prices)


    Does anyone have any suggestions for a good local supplier - I too smell a rat on the wording used on the clubs weekly email blurb - it always seems to imply prices are on the rise so best to order now!
    • A. Badger
    • By A. Badger 28th Aug 18, 8:02 PM
    • 5,252 Posts
    • 6,648 Thanks
    A. Badger
    That sounds a little high for the past 12 months.

    Your best bet is to Google local oil suppliers for your area and get quotes.
    • fyr
    • By fyr 29th Aug 18, 8:12 AM
    • 53 Posts
    • 27 Thanks
    fyr
    Chieveley Oil Club
    Depending on where you live in West Berks you may qualify to join above; unlike Boiler Juice who will bombard you with weekly e mails, they don't (+ current oil price trend looking very bad).
    BJ also owned by a large oil distributor.

    Club orders about every 2 months; no membership fee.
    All you do is advise volunteer who runs club that you intend to buy at next Club Buy and how much. Once they've collated amount they phone local suppliers and get a bulk deal; minimum order 500 litres, but you still get the negotiated price.

    You then get an e mail advising the successful oil supplier & price agreed. You can then check other sources and see if the price the Club obtained is competitive.
    http://www.mychieveley.co.uk/index.php?page=50
    Gel
    • enator
    • By enator 4th Sep 18, 1:09 PM
    • 99 Posts
    • 116 Thanks
    enator
    Just bit the bullet and ordered 1,500 litres at 53.3p inc VAT (that's in South Cheshire)


    Annoyingly, I rang a few days ago and it was a couple of p cheaper but I thought I would hold in case it started to drop.


    Bummer
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