Domestic Heating Oil Prices

There are are a number of oil purchasing co-operatives organised on a local, regional and national scale which are easy to find on-line. If you prefer to time your purchases yourself and negotiate your own deal here is some information that might help.

Headline

While hoping for a spring downturn in price, the cost per litre has remained stubbornly high at a little under 50 pence.

Latest England Average Price for Domestic Heating Oil

Date England Average Price Trend
18th Apr 2019 49.75(Boilerjuice) Rising


In Stockland the price per litre is normally lower than the England Average.

Price History from the Office for National Statistics

(Office for National Statistics - Feb 2019 - next update due on 20th March)

The lowest price since 2011 was 28.6 pence in February 2016. The most recent peak was 59.9 in October 2018.

Information available online to help negotiate a price today

1. This Fueltool link allows a search for current prices in the EX14 postcode area for the quantity of oil required
http://www.fueltool.co.uk/countysearch.cfm?county=Devon&country=England

2. The average price across England is available from Boilerjuice at https://www.boilerjuice.com/heating-oil-prices-england/

Prices for Devon & for Dorset were available from heatingoilcompare but this site has now closed.

Watching the trend in oil prices

Stock market prices and fluctuations in the exchange rate are very strong factors affecting the price of heating oil. In the past 2 years the GBP/USD exchange rate fell from highs of $1.53 in Sept 2015 and $1.49 in June 2016 to a low of $1.20 in Jan 2017. The live table below shows how many dollars one pound and one euro are worth now. Oil is traded in dollars so a higher rate is good news.

The trend in the price of heating oil tends to follow the crude oil price trend but there is often a time lag. The Brent Crude Oil chart on the left at the foot of the page shows the price range over the last eight months. The chart on the right covers recent weeks and gives live trading data for ULSD (Ultra low sulphur diesel) on which heating oil trading is now based.

Crude Oil Price News 9th April 2019

Reuters - "Goldman Sachs has raised its forecast for crude oil prices this year, with supply hit by the “shock and awe” implementation of OPEC-led output cuts and by U.S. sanctions on Iran and Venezuela..
The investment bank said in a note dated April 8 that it now expects benchmark Brent crude prices to average $66 per barrel in 2019, compared with its previous estimate of $62.50. It sees U.S. crude oil averaging $59.50 per barrel, up from its last forecast of $55.50. Oil prices hit their highest in five months on Tuesday, with Brent marking $71.34 per barrel and U.S. crude reaching $64.77 per barrel."

https://uk.reuters.com/article/uk-research-crude-goldman/goldman-increas...

Brent Crude Oil Benchmark Price
(last eight months)

Live Data

Heating Oil Futures Trading Price
(recent weeks)