The BBC reported today that the price of Brent crude has risen to a 10 month-high. This is largely as a direct result of Saudi Arabia and Russia cutting global oil production.
How does this affect heating oil?
Crude oil is required to produce heating oil so when the price of crude oil rises so does the price of the heating oil produced from it.
Can I beat the rise?
The market has already reacted but the suggestion is that the rises could continue. Ordering today could well save you money so it’s a good idea to check your heating oil levels, and if you need a top-up place you order sooner rather than later.
With the seasons starting to change and the colder weather returning, we anticipate a rise in demand which can also see the price start to rise.
Our advice is if you have room in your tank, now looks like a wise time to order a top up.