July 13, 2015
Here’s another bit of good news if you use domestic heating oil to power your home. With the recent drop in oil prices, you are likely to be spending significantly less on your energy bills compared to people using the mains gas supply.
The news, reported by the Oil Firing Technical Association (OFTEC) states that rural households using domestic heating oil are paying on average £142 per year less* than their urban counterparts.
According to OFTEC – the UK trade body for oil-fired heating – rural homeowners across the country have benefitted from a UK average £500 fall in the price of heating oil over the last two years.
And the good news is set to continue with industry experts predicting the price of oil is set to stay low for the foreseeable future and could drop even further.
Malcolm Farrow of OFTEC said: “These latest figures provide great news for rural householders that use oil to heat their homes. Homeowners looking to make real savings on their fuel costs over the coming years and people currently using LPG or electric storage heating should consider switching to oil to save money.”
*Sutherland Comparative Domestic Heating Costs Tables, April 2015