UK Heating Oil Prices

Heating oil prices can fluctuate daily, often varying dramatically. It is not always easy to find cheap heating oil on the market, as there are a number of external factors that can affect the price of oil. The majority of which are beyond the control of our suppliers so it's extremely difficult to predict changes in price. However, we will always endeavour to provide you with the best heating oil prices and quotes for your fuel.

Heating Oil Price Trends Chart

The graph below shows the recent trend in UK heating oil prices, along with UK temperatures. Whilst it's often thought that the price of oil can fluctuate depending on the weather, it's not always the case. Factors such as extreme weather, politics and import costs can all have an impact on delivery costs. However, as the graph shows below, the price can vary throughout the year. At Fuelfighter we follow the market closely and will always try to offer you a competitive rate for your heating oil.

What Affects Heating Oil Prices?

The Organisation of the Petroleum Exporting Countries (OPEC)

OPEC is an intergovernmental organisation of 15 oil exporting nations that work together to stabilise global oil prices and maintain a regular supply. They meet regularly to coordinate policies and any changes made to agreements can affect the price of Crude Oil, which in turn affects the price of domestic fuel.

Foreign Exchange Rates

As the UK import oil, any changes in exchange rates can directly affect the cost of your heating oil.

Conflicts in Oil Producing Countries

The cost of exporting oil can rise if there is conflict in an oil producing country. This is because there is often the need for additional security measures to safely export the oil.

Supply and Demand

The demand for heating oil fluctuates throughout the year, depending on factors including the seasons and weather. When oil is in high demand, the price rises as it puts a strain on the supply. This is common in the winter months, so we always recommend trying to keep your tank topped up during the summer months so that you're able to take advantage of the typically lower prices.

Crude Oil Prices and Refining Costs

The price of crude oil can be affected by all of the factors mentioned above. As heating oil is refined from crude oil, any fluctuations in price, and also any changes to refining costs can directly affect the cost of your oil.

Fuel Duty and VAT Rates

Whilst fuel duty and VAT rates don't change regularly, it's still important to remember that they contribute to the cost of your heating oil. More information on this can be found here.

Distribution and Delivery Costs

The price of petrol and diesel can fluctuate often. Suppliers need to respond to these changes in order to cover any increases in delivery costs. They are also able to pass on savings to you by grouping together deliveries. If possible, it's recommended to try and order your fuel in plenty of time so that the suppliers can plan their delivery route and group together orders. This means they use less fuel and ultimately you pay less for delivery.

Weather Conditions

Changes in weather conditions can directly affect the cost of delivery. Poor weather can mean that deliveries take longer and changes to routes may be needed, resulting in increased petrol/diesel costs and an increase in driver time.

If you have any additional questions surrounding heating oil prices, please contact us and we will be happy to help in any way that we can. If you are looking to compare heating oil prices, simply obtain a quote using our quick and easy quote request form.

Instant Quote

Fuelfighter is dedicated to bringing you competitively priced heating oil, from local suppliers.

We offer:

  • A range of delivery options to suit your calender
  • A network of trusted, local suppliers
  • Premium heating oil products
  • A free loyalty membership scheme

Following your first order with Fuelfighter you will automatically be enrolled in our free loyalty membership scheme, where benefits include:

  • Exclusive special offers and discounts
  • Energy saving tips and advice
  • Email alerts to check your tank levels