Fuel Prices

Uff

I've just placed an order for my heating oil tank to be filled. Today's price is 60.7 per litre. I think that's the most I've paid in the 7 years that I've been doing my finances. It was 56.60 last November when I last had the tank filled.

I guess the prices are different in different parts of the country. No gas in this area so don't have a lot of choices. 

Perhaps someone can explain to me why when the price of barrels of oil is coming down heating oil doesn't follow suit?





 

Fairygirl

I would imagine it's the processing - which includes, ironically, the delivering of it. 

Nanny Beach

Uff, how much does a tank full cost you and how long would it last?

philippasmith2

@Uff I think you might just be on a winner ( as far as it goes anyway ).  I topped up my tank with 752 litres on 7 December at a price of 61.5 p per litre.
Like you, no mains gas here. West Somerset. 

Fairygirl

It would depend how much you use @Nanny Beach, and that would depend on your house, and your location, and the climate.
I think @Uff would use considerably more than you would.

The only advantage  of this unbelievably mild winter we're having here is that I've probably used half the amount of gas I normally would. Other parts of Scotland have had more 'winter' than I have though, especially further north of course. 

Uff

Fairygirl said:

I would imagine it's the processing - which includes, ironically, the delivering of it. 

I'm not sure that's the answer FairyGirl. I don't think it would be as simple as that. 

Nanny Beach, it's as FairyGirl says, for me, it depends on what the weather is like, the fact that this is an old cottage and therefore not insulated as well as modern houses are, and the price of heating oil which changes daily. Yesterday for instance it was .04 pence cheaper per litre than today. When I'm in the house I like to be warm. 

Goodness knows what fuel prices will be like next winter when the cap comes off electricity in April. 

Fairygirl

I think they also tend to have an excuse for prices not coming down @Uff - cost of storage, holding prices - until they can't do it any longer when their costs have gone up  blah blah blah.
Funny how it's quick enough to go up when wholesale prices [of any kind of fuel ] rise, but it never seems to happen the other way round 

Lyn

We’ve just paid 59.3. Including vat.  In 2012 it was 64.5.
Been up and down ever since, never had 2 bills the same.  Our garage passes on any reduction to the customer. 

Fire

With gas bills I will be closely watching when gas supplies regulate. If they are going to go up by 60% due to short term crisis, they have to come down again by 60% when the crisis is over. I will be pushing on this.

fidgetbones

Brent crude broke $90 a barrel today. The highest price for 7 years.  Don't expect it to come down any time soon, while Putin is sabre rattling.

Fire

Yes, the situation in Ukraine won't help at all.