Will home heating oil prices change soon?

With a lot of political changes in recent months in the UK and USA, it’s no surprise that many of us are asking how these factors will influence the cost of things we buy every day – groceries, petrol and of course, home heating oil. There’s a lot of conflicting information out there with multiple predictions for the energy industry for 2017, but the question on everyone’s lips is, will home heating oil prices change soon? In this blog post we’re taking a look at some of the factors which may influence this cost, and what you can do to get a great deal on your home heating oil.

Brexit

In the aftermath of Brexit, we’re all seeing subtle changes in everyday spends due to the weaker pound. A weak pound makes oil more expensive, and this impacts directly on transport costs (for the likes of petrol and diesel for cars and air travel) and home heating oil prices.  Since the summer months, when oil is normally cheaper due to a lower demand, the price of oil has been slowly creeping up and unfortunately, it seems like this trend will continue for some time. Sadly, not every company will be able to absorb this cost, and as a result the difference in price will be passed on to the consumer.

Donald Trump

During his campaign trail, Donald Trump promised to support Big Oil companies more with less regulation and more exploration and drilling opportunities, and now that he has been formally admitted to office these plans will likely be underway soon. Reports are divided though as to the potential success of these projects and how it will influence oil prices; one argument is that increased drilling activities in the US could prompt foreign suppliers to increase their own exploration activities, which could potentially increase global supply and make oil cheaper for everyone. This is an area of the news which will receive very close scrutiny over the coming weeks, which is likely to result in fluctuating prices.

How to get the best deal on your home heating oil

Despite all these recent changes, our customers can still expect a great deal on home heating oil orders, as we monitor the prices of oil every day and adjust our prices to give you the best possible deal. That means wherever we can make savings, we’ll pass them on to you. Here’s a few other tips to help you save when you order home heating oil from us:

  • Order in advance to save money on delivery costs
  • Use your debit card instead of a credit card so you don’t get charged transaction fees
  • Order as much as you can afford (or that your tank will hold) in one go to benefit from a lower cost per unit

Remember, you can get a quote online from us any time with our website form. Find out how much you could save today by getting an instant free quote.

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