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Posted: 18/09/2016

Good Time to be on Heating Oil!

Good Time to be on Heating Oil!

It is a Good Time To Be On Heating Oil Says Trade Association


As the latest figures from Sutherland Tables, provider of comparative home heating costs for the most common fuels in the UK and Republic of Ireland, show that the price of heating oil has been the cheapest form of energy for off grid mainly rural homes for the past 14 months.

The trade association for the oil distribution industry in the UK, The Federation of Petroleum Suppliers (FPS), is urging the 1.25 million homeowners using heating oil to really reap the rewards of using oil as their heating source.

“This data is fantastic news for everyone using heating oil as it confirms that this form of energy is the cheapest right now. The latest data shows that families in an average 3-bedroom house with an oil boiler are paying around £731 a year for heating and hot water, compared to £1503 for those using LPG, £1600 per annum for those on Electric, £1453 for those with air source heat pump radiators, £1332 for those using wood pellets and £1,027 for those using a mains gas boiler.”

“No matter where you live or the type of oil heating boiler you have, if you use heating oil to keep your home warm then you will currently be enjoying savings on your heating bills.

“The really great news for all heating oil consumers, though, is that they can maximise on the great value for money heating oil is by following some simple steps - buying at the right time, making the most of insulation methods for your home and importantly considering switching to an oil condensing boiler which could save you an extra £158 per year.” says Mark Askew, Chief Executive of FPS.

The Sutherland Tables data has revealed home heating costs using oil are now sixty-three percent lower than the four-year average for older buildings and sixty percent lower for newer builds in the UK.

Mark Askew adds:

“It may be tempting to think you can enjoy the best savings purely on the price of oil – but if you buy your oil in a planned way and maximise on things like your home insulation and consider switching to an oil condensing boiler, you can reduce your energy bills even more thus heating your home using oil in the most energy efficient manner for the biggest savings,” Mark Askew adds.

“Be sure to check the amount of oil you have in your tank and to keep between fifteen and twenty inches of oil in the bottom – emergency deliveries are expensive and you also run the risk of disrupting the sediment that settles at the base of your tank if you refill it when it’s too low, which can clog up your supply pipe and lead to costly repairs.

“Plan your order, both in terms of time and amount, to save money. Try to buy in the summer months as both demand and costs are lower, and place the biggest order of oil you can, as generally the more you order the less you pay on a per-litre basis and if your local supplier has less to travel if delivering to a few households at the same time they will save on delivery costs which can be passed on to consumers."

Source: Oilsave