How will Brexit affect heating oil?
Although no one can say for certain, there is a good chance that the cost of certain commodities might be affected by the results of Brexit.
As we've seen already, the value of sterling can sharply decline on the back of some bad news surrounding Brexit. Should the value of the pound drop once more, then the likely result will be a rise in the price of heating oil and other fuel products.
This is because the price of heating oil is directly related with the price of crude oil. Because crude oil is globally traded in dollars, when the pound goes down in value against the dollar, the price of oil inevitably goes up.
Our advice is to buy your heating oil today if you want to be certain of your fuel costs over the next few months and avoid any reactive hikes in price.