Why Domestic Heating Oil Prices Change
October 28, 2019
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November 12, 2018
Post by: Marie Greewood
November 17, 2017
If you’re one of the 1.5 million households in the UK that rely on heating oil to fuel your home, you’ll know that checking the price of domestic oil can be quite the task. Checking heating oil prices one month can present you with a different outcome to checking the prices a month later, or even within the same week.
Understanding the reasons why domestic oil prices change is the key to unlocking the secret of securing the best quotes. Follow our advice to help get the cheapest heating oil prices and stay warm all year round.
When is the best time to buy Heating Oil?
Traditionally, summer is the best time to buy Heating Oil as demand is lower. We recommend you consider the time of year when checking domestic fuel prices. If you are checking prices in the summer, you’ll notice that the quotes you receive are traditionally less than in the winter months. This is because the overall demand for heating oil is generally much lower as households aren’t heating their homes, or are heating their homes at a lower level.
When checking domestic heating oil prices in winter, you’ll notice that the quotes you receive are traditionally higher than they were in the warmer months. Again, this is due to a change in the overall demand for oil. In the colder months, we will typically have the heating on for the longest periods of the year, which means we consume the most oil throughout winter, leading to an increased demand for kerosene.
Many of us forget to check our tanks and ensure they are regularly topped with heating oil, leading to a surge of heating oil orders around December time. This rise in demand is what leads to a seasonal rise in heating oil prices, as the oil suppliers must source and deliver fuel to fulfil a larger amount of orders.
Keeping Your Tank Topped Up
Ensuring your heating oil tank is regularly maintained and topped up is one of the best ways of avoiding paying the higher prices. Ordering a little extra fuel with each delivery will help you to stay topped up and prevent you from running out at the most crucial time.
Be aware of your tanks capacity as over-ordering means that you have nowhere to store the additional oil. Thankfully, at Rix, we return the excess fuel to our depot and credit your account for next time you wish to order. Check your tanks current oil levels by looking at the gauge or using a dipstick for a more accurate answer.
Top tip - Check your tank throughout the year and top it up when demand for heating oil is lower.
Try to avoid Emergency Deliveries
Forgetting to check your tank and realising that you’re out of oil means that you may have to rely on an emergency delivery. An emergency heating oil delivery will be more expensive than a regular delivery. If you place an order for an emergency delivery, the supplier must try to fit your order in which may not be economical to do. Save money on your heating oil quote by being prepared and avoiding emergency deliveries!
Preventing Heating Oil Theft
When you have received your order, and have a nice full tank, the last thing you want is for your fuel to be stolen. Unfortunately, heating theft does happen as thieves either sell the fuel on for a profit or use themselves and avoid paying for their own. Preventing heating oil theft is another way to ensure you aren’t paying unnecessarily for your additional heating oil.
Bulk Heating Oil orders may lower the price
If you don't usually order a larger quantity of heating oil, for example, more than 900 litres. It may be worth you seeing if your local village or community have an oil buying group.
Setting up or joining a community oil buying group means that a village works together to purchase oil to be delivered on the same day which can lead to savings as the supplier is delivering in bulk to a number of homes on the same day. Buying groups are not suitable for everyone, so if you are unsure, our advice on joining a community oil buying group may help you weigh up the pros and cons.
Comparing Suppliers Service as well as their Prices
When shopping around for heating oil prices, it can be tempting to just look at the number and go with the lowest price. As domestic heating oil prices are constantly changing, selecting the cheapest supplier on one occasion may not be the cheapest supplier next time. The fluctuating nature of oil prices means that it important to consider more factors than just the price when choosing a heating oil supplier.
A family-run company like Rix Petroleum is able to provide a more personal service than perhaps some of the larger fuel companies. A reliable delivery service and customer service staff located at your local depot can really help make your heating oil delivery hassle free. We have a long history of happy customers with fantastic independent Feefo reviews thanks to our dedication of delivering excellent customer service with your heating oil. Read our Independent customer reviews here.
Checking Current Domestic Heating Oil Prices
Regularly checking the price of heating oil is a great way of noting the seasonal changes in price. At Rix, we’ve made it easy for customers to check our current domestic oil prices. Our heating oil quote calculator tool gives you a quote in an instant – just enter your delivery postcode and fuel amount! The tool will calculate the price with different delivery options – such as standard, express, and emergency. The quote tool is always available on our website for you to check and refer back to whenever you are looking to buy your heating oil.