Heating oil prices affected by changing weather

 April 04, 2013

The start of spring has certainly been tumultuous with the weather being colder, snowier and more extreme than winter rather than showing the usual season characteristics. With this heating oil prices have hit highs and lows in quick succession making it harder for homeowners to catch the market at the right time.

Predicted to last into at least the start of april, temperatures have already reached all time lows and are being forecasted to carry on getting down to as little as -16 in some parts of the country. This has grown increasing concern that some homeowners, especially the most vulnerable, might not be prepared for the unseasonable cold and be left in a situation where heating oil prices are to high and then subsequently cant afford to buy fuel when it is most needed.

Top tips for getting the best heating oil prices throughout the changing seasons –
* Check weekly, fortnightly and even monthly weather forecasts. By doing this you can not only make sure you have enough fuel for when the weather is bad but it gives you a little heads up on when heating oil prices might drop a little if it gets warmer or there is a change in conditions
* Compare suppliers by getting online quotes for heating oil prices. Most will be priced competitively but depending on a number of factors such as location, quantity and type of order it can change.
* Sign up for newsletters and check supplier websites for news updates. We want all of our customers to live comfortably all year round in fully fuelled homes so we keep you up to date with any offers we have on orders, heating oil prices or products that we think are beneficial to you. We will also let you know if there is a dip in market demand so you can get your orders at the lowest prices.

At Rix we care for our customers and will do everything we can to make sure you don’t be left in the cold. If you have an enquiry about our heating oil prices, are running low on fuel or are completely out contact your local depot immediately where one of our friendly team will help in any way they can. We have an excellent reputation for our quick response, competitive heating oil prices and trustworthy service even in the harshest of weather conditions.

Click here to get an instant heating oil prices quote 

The quest for cheaper heating oil prices what do I need to consider

 May 21, 2013

 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:

Purchase time

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.

Bulk Buy

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.

Payment method

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.

Energy efficiency

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.

Boiler maintenance

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.

What does the future hold for energy prices

 May 20, 2013

Energy bills have been climbing steadily in recent years, and it doesn’t appear that the future is likely to provide any respite for cash-strapped consumers.

Figures brought to light by Labour’s Shadow Energy Secretary Caroline Flint have already revealed a wide gulf between the prices that gas and electricity suppliers pay for their energy, and the bill footed by consumers – with this difference rising by 39% for electricity and 69% for gas in the past 10 years.

This means that consumers have seen their energy bills climb by £250 a year (£91 for electricity and £165 for gas), putting an additional £6bn in the pockets of the UK’s leading energy suppliers, compared to a decade ago.

Commenting on the data, Ms Flint said: “They always blame rising global energy prices for putting up people’s bills, but these figures show they’ve been increasing their profits on the back of spiralling energy bills for hard-pressed households.”

A report by the Renewable Energy Foundation has argued that the UK government’s drive to increase the country’s reliance on renewable resources could cost each family an extra £600 a year by 2020.

Dr John Constable, director of the Renewable Energy Foundation, said: “Theannual additional cost to consumers will be upwards of £16bn a year in 2020, which is over 1 per cent of current GDP.

“One third of this cost would hit households directly through their electricity bills, regardless of income, making it an intensely regressive measure”.

Earlier this year, energy regulator Ofgem also argued that energy prices could also be set to soar as a result of the UK’s increasing reliance on gas imports.

However, while the Department of Energy & Climate Change (DECC) argues that while renewable power, nuclear and energy efficiency measures will add £286 to consumers energy bills by 2020, the fact that consumers will reduce their energy consumption will also mean that energy bills are lowered by £452 per household.

Ultimately, consumers can still work to find competitive energy prices for their needs, including the best domestic heating oil prices, regardless of what state the economic climate is in.

What kind of factors affect oil prices

 June 12, 2013

Like a number of fuels, home heating oil prices can fluctuate depending on what is going on with the wider market, meaning that the cost of heating oil may not always be consistent throughout the year.

This means that home heating oil users will need to regularly monitor the cost of their heating oil to ensure that they are getting the best possible price at any one time.

Here are just some of the factors that can impact the cost of home heating oil:

Demand from world’s top oil consumers

The United States and China are the top two consumers of oil in the world, and as a result they both have a huge impact on the oil market at large. It is suggested that the better an economy is faring in terms of employment levels and house prices etc, the greater the demand for oil and the higher the price that consumers can expect to pay for oil.

Currently, the US economy has recently been upgraded to ‘stable’ from a previous rating of ‘negative’ in 2011 by ratings agency Standard & Poor, indicating that it is showing tentative signs of recovery. However, experts have argued that China could miss its growth target of 7.5% in 2013 because of low 1% growth in exports in May.

Despite these contrasting figures, the Organisation of the Petroleum Exporting (OPEC) has forecasted that world oil demand will increase to 900,000 barrels per day (bpd) in the second half of 2013, compared to 700,000 bpd in the first half of the year.

Exchanges rates

As oil is traded in US dollars, the value of the pound against the dollar will have a bearing on oil prices i.e. the stronger the pound, the lower the price you should pay for your home heating oil and vice versa. The latest figures have revealed that the dollar remains higher against the pound.

War and natural disasters

If there is political unrest in a country or the potential threat of war, consumers may ‘panic buy’ large quantities of oil for fear that it will be hard to access this energy source, if a country slips into disarray. As there are a number of key oil producers in the Middle East then any political instability in this region could affect the worldwide oil prices.

Natural disasters can also cut off oil supply. As an example, in 2005 Hurricane Katrina stopped oil production along the Southern Gulf Coast, sending oil prices soaring.

Despite what is happening around the globe you can get the best deal on your home heating oil prices by asking your supplier for home heating oil offers, buying in bulk and buying in the summer months, when oil demand is generally lower.