Will heating oil prices go up or down?

This is very difficult to predict, as the price of heating oil is affected by a number of external factors, such as global demand, natural disasters and conflicts. However, The Department of Energy & Climate Change has estimated that oil prices will drop until 2017, and remain below 2014 prices until 2024.

Fuel prices fluctuate depending on a number of factors, but heating oil is always competitively priced, and often the least expensive option — especially if your household is off the national gas grid. You can find out more by reading our heating oil price guide.