Heating Oil Prices
Heating oil prices can vary dramatically from day to day. At HomeFuels Direct we endeavour to offer you the best price, customer service, speed of ordering and delivery.
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Current Price Of Heating Oil
We are the biggest UK supplier which means we can offer you some of the best prices per litre for your heating oil. We also collate the prices of our competitors and we display this on our Live Heating Oil Price Graph so you can quickly and easily see who is the cheapest.
As of 23:59:14 on 17/05/2022 for orders over 900 litres.
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Live Heating Oil Prices
We’re proud to offer low heating oil prices and have created this graph so you can see how we fair against different suppliers - click on the suppliers names to toggle prices on or off.Get Live Prices Now
* This reflects the UK wide average for HomeFuels Direct
What affects the heating oil prices?
As with the price of crude oil there are various reasons why heating oil prices vary each day. Although it's extremely difficult to predict changes in price we've put together some of the key factors that contribute to those changes. Once you know what affects heating oil prices you can make a better informed decision about whether it's a good time for you to top up your tank.
The Organisation of the Petroleum Exporting Contries (OPEC) is a group of 12 member countries. The organisation meets regularly to co-ordingate policies, in an attempt to stabilise global oil prices whilst maintaining a reliable supply. Agreements made by OPEC can affect Crude Oil Price, which in turn causes changes to the price of domestic fuels.
Foreign Exchange Rates
In the United Kingdonwe import a lot of our heating oil from other countries, this means changes in exchange rates can directly affect the amount you pay for your home heating oil.
It's well known that conflicts in oil producing countries affects the price of crude oil. Even if it is still possible to export oil from conflict zones the cost for that oil can increase dramatically. This is down to the need for additional protection and security at oil extraction facilities and refineries.
As the price of petrol and diesel fluctuates suppliers change what they charge for kerosene. They do so to cover increased delivery costs or to pass on savings in deliveries, depending on which way fuel prices have shifted.
Although poor weather can lead to changes in demand the weather can also lead to increased delivery costs. Poor weather conditions can mean deliveries take much longer, increasing the amount suppliers have to pay their drivers and also increasing the amount paid for petrol/diesel.
Supply & Demand
Throughout the year the demand for heating oil rises and falls depending on the seasons and the weather. As demand rises prices can increase as the higher demand puts a strain on the supply. In recent years periods of oversupply have lead to dramatic decreases in the price of kerosene.
Crude Oil Price
As kerosene is refined from crude oil it’s price is directly linked to the price of crude oil. Another factor to bear in mind is that the cost to refine crude oil to kerosene can also vary, again leading to changes in home heating oil price.
Fuel Duty & VAT
Whilst Fuel Duty and VAT rarely change it’s important to remember that they’re payable and contribute to the amount you pay for your fuel oil. To find the up to date Fuel Duty Rate and VAT rate for domestic heating fuel click here.
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