When do you usually stock up on heating oil? Autumn? Before Christmas? Or at some other time of year? We’re sure our other customers would be interested to compare notes!
Here in the office we were chatting about this the other day. Outside the weather was blistering hot so it wasn’t the most obvious time to think about central heating oil!
But our director Paul swears the summer months are the best months to stock up on oil. This is because oil prices tend to fall during the warm weather when… no surprises here… demand for heating oil drops.
The trouble is, when you’ve quite a few litres left in your tank and you’re only using heating oil to heat your hot water, you can be tempted to put it off until the weather gets colder.
But, just like buying petrol before the Budget duty hikes, the best thing to do is to stock up on oil while prices are still relatively low.
If you haven’t checked it out already, take a look at our Heating Oil Price graph. Every day we check the lowest 1,000 litre price of Kerosene 28 from all our heating oil suppliers. Then we log the minimum, maximum and average prices and put them on a graph on our website so you can track the change in oil prices and see if heating oil is going up or down.
Of course oil prices rise and fall like a roller coaster, but the general trend since the start of May 2010 is for heating oil prices to go down.
Obviously we can’t predict what heating oil will do over the summer… other things can affect oil prices; not just the weather… but historically oil prices usually go down.
Which is why our director, Paul, will be filling up his tank pretty soon.
When do you tend to top up with heating oil?