Fuel distribution is just one of the markets impacted by the current uncertainty as we approach the deadline for Brexit and the potential for a no-deal. So, what can you expect to see next for the price of heating oil over the next few weeks?
It has been communicated to us that if the UK leaves the EU without a deal, the UK will implement a temporary tariff on the import of oil products. This would apply for up to 12 months. During this time a review on a permanent approach will be undertaken. Oil is just one of many products that would see a temporary tariff applied. Any tariff would inevitably push up the price of oil for consumers.
The UK and Ireland Fuel Distributors Association (UKIFDA) are encouraging their members to prompt customers to buy their home heating oil well ahead of the winter season. By keeping your tank topped up, this will help to prevent you from being desperate for fuel at the end of October and November. It will also ensure you have enough fuel in your tank as the temperatures start to fall. Brexit and the changing price of heating oil offers uncertainty for many so it’s a good idea to be organised. By ordering early you can opt for the 10-working day economy delivery service which offers a lower price. You can also benefit from a lower price by ordering a larger quantity of heating oil. This is because it is more cost effective for the fuel distributors to make fewer deliveries and they are able to pass on the benefits of this to their customers by way of a lower price per litre.
Our suppliers are members of UKIFDA and regularly follow their industry advice and communications. You can find out more about UKIFDA here. At Fuelfighter we are committed to offering competitive prices for your heating oil and our distributors follow the market closely. Click here to get a new online quote for your heating oil.