How to Save Money on Your Heating Oil
December 17, 2020
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November 12, 2018
We all wish to save money on heating oil each year, especially if you paid hundreds of pounds last winter heating your home. More and more homeowners in the UK are looking for new and innovative ways to save money on their utility bills, especially during the colder months.
To help you get the most from your heating oil and make your home as energy efficient as possible, we've put together a guide on how to save on heating oil and how to conserve heating oil with energy-efficient home improvements. We also share our top tips for saving money on heating oil to help you reduce your heating bills in the long term.
How to Save on Heating Oil
1. Consider the price of heating oil
It's never too early to consider how to save on heating oil. It's important to consider the price of domestic heating oil as this fluctuates with the global markets; tracking these fluctuations can help you to buy your kerosene at the best price.
Several factors influence the price of oil, but historically it has been one of the following:
- The time of year
In general, during the winter months when demand for heating oil is typically it highest, the price of oil increases. Typically the price of heating oil is lower in the summer months when demand is low and increases as the colder weather arrives in the winter.
- Quantity of oil you are ordering
Generally speaking, the larger the quantity of heating oil, the lower the price per litre. This is because the more we deliver per customer, the better it is economically for our vehicles so that we can pass the saving on to you.
- Global conditions
Factors such as severe weather, including natural disasters, can be a big factor that affects supply and demand for oil.
To discover when is traditionally a good time to buy your heating oil to ensure you're getting the lowest price, make sure to check out our complete guide to heating oil prices.
2. Purchase the heating oil earlier
Buying heating oil in advance is probably the most important aspect when it comes to cutting down your fuel bills and overall heating expenses. As there are several factors which contribute to the oil's price variation in the UK, you need to conduct thorough research to be able to distinguish the best time to buy heating oil. Usually, specialists have concluded that the best time to stock up with oil is in the early autumn, during September and the beginning of October. Remember to order as much fuel as you can because you don't want to run off of it in the middle of January when temperatures fall below 0 degrees.
3. Keep away from direct debit
Even though some direct debit schemes could prove quite helpful because they allow you to spread the cost of home heating oil across 12 months, they could prove more costly in the long run. You will find that paying in advance can save you a lot of money on heating oil in the long run.
4. Consider a premium heating oil
Just as premium road fuels can improve your car's performance and MPG, premium heating oils can reduce the energy bills of an average-sized family home by up to 10%.
Premium kerosene such as K+ heating oil has been treated with special additives which burn more cleanly and efficiently than standard heating oil. Not only will this help to reduce your annual energy bills by saving money on heating oil, but it will also help to prolong the lifespan of your oil boiler.
5. Service your boiler regularly
Do you want to slash the cost of heating in the long run? If so, make sure that you undertake regular repairs and maintenance of your boiler. An annual, regular service can help you to maximise your domestic heating without spending more on heating oil. Within your service, sludge deposits will be removed, which increase heating costs and reduce heating efficiency.
How to Conserve Heating Oil
1. Turn down your thermostat
By turning your thermostat down by just 1 degree, you will be able to reduce your fuel bills with over 10%. Also, make sure that the thermostat is accurate. Ask a qualified Oil Firing Technical Association (OFTEC) engineer to examine your oil-fired boiler to adjust the thermostat setting if you think that the temperature in your room is not acceptable.
2. Use your kitchen more
If you don't want to insulate your home or you don't want to turn down your thermostat, there is one thing you can do, allow the heat from your kitchen to escape into the whole house. For this simple hack, keep the oven door open after cooking a meal; you will soon notice an increase of the air temperature in your home.
3. Invest in a modern and better boiler
Sometimes it is time for a change. To significantly save money on heating oil, invest in a new and more performant oil-fired boiler. Modern boilers are more energy-efficient than old boilers and have a lower risk of failure, saving you money in the long run on repairs.
4. Draft proof and insulate your home
Insulating your home is one of our favourite energy-saving tips to save money on heating oil. To ensure you're getting the most from your heating oil, you should make sure your home is as energy efficient as possible so that the same amount of heating oil goes further.
An easy and affordable way to cut down your energy bills and make your heating oil go further is, to thoroughly draft-proof and insulate your home. The older your home, the less energy-efficient its design is likely to be, and the greater savings you can expect to make with these improvements, whether that's insulating your loft, walls, or letterbox.
Depending on how insulated your property already is, this simple upgrade — which you can perform yourself in an afternoon — could potentially save you money on heating oil. Remember that cavity wall insulation can retain up to 35% more heat, helping you save an extra £30 each month on your fuel bill. If you'd rather have a professional install your loft insulation for you, you can use the National Insulation Association website to find an accredited installer near you.
Common areas where you'll find draughts include:
- Windows and external doors
- Loft hatches
- Suspended floorboards
- Pipework leading outside
- Ceiling-to-wall joints.
If your home is not insulated according to the UK standards, then heat will be lost faster, and in turn, you will pay more on your heating bill. Insulation is a great way to keep the heat in and cold out or vice versa, so make the most if you want to save more money this winter.
Extra Top Tips for Saving Money on Heating Oil
- Wrap up warm in extra layers and blankets before turning on your heating.
- Make sure all windows and doors are shut. Keeping internal doors in unoccupied rooms closed at all times help to stop heat leaking into rooms that aren't being used.
- Bleed your radiators.
- Have your oil boiler serviced once a year to ensure maximum efficiency by an OFTEC-certified technician.
With these simple measures, you can beat the cost of rising heating oil prices and guarantee your household will stay warm even in the coldest months. Please don't hesitate to get in contact with Rix; we have a team of OFTEC qualified technicians who provide a variety of heating oil services to help you save money on heating oil in the long run.