The quest for cheaper heating oil prices - what do I need to consider?
With 1.5 million consumers now using domestic oil to heat their homes, it is crucial to secure the best price on home heating oil for their needs to keep their energy costs down.
Here are just a few things that consumers need to consider when looking for cheaper heating oil prices:
As energy demand is generally lower in the summer, when warmer weather means we have less of a need to generate energy in our home for heating, this may be the perfect time to snap up domestic heating oil at prices that may be lower than the rest of the year.
As with most things, buying items in bulk can stand to make consumers significant savings on products compared to buying items individually. While many domestic heating oil suppliers will require a minimum order of 500 litres, by purchasing double this amount (1,000 litres), or even going beyond this figure, the price you pay per litre could drop even further.
Even if you only save 1p per litre, this will add up to a £10 saving each time you order 1,000 litres.
It is important to identify which payment method incurs the least or no charges with your home heating oil supplier, whether that’s paying the total bill upfront or making payments by direct debit instead of your credit card.
While price is obviously one of the key factors in securing domestic heating oil that falls in line with your needs and budget, it is also important to consider the energy efficiency of the oil you are buying, so you can maximise the heat gains from this energy source.
To ensure your heat oil tank stays in good working order it is important to have it serviced every 12 months and check for leaks on a regular basis.
Fitting insulation to your oil tank and pipes connected to it could also help to minimise heat loss from your tank.