Heating oil-how long before crude prices work through?

[Orionaut]

One for those who use heating oil....

As above, Crude prices have plummeted over the last couple of weeks.

How long does it take for something like this to work through to the retail side for heating oil?

(Heating oil prices spike for other reasons, but the underlying trend has to follow crude prices and if this low crude price persists ISTM that we should be seeing 30ppl or even lower prices eventually)

 

[task]

I paid 32P/L for 1500L 3 weeks ago, the oil club price is now down to 32p/L as of last weekend. I find calling around the different retailers always gets me a price lower than the oil-club and their online estimates.

I'm expecting it to drop even lower in the next month and I'll probably buy more as I've still got 700-1000L capacity left (depending how long I leave it)

Would be great to see 25p/L

 

[#Chri5#]

I paid 39.95+VAT for 1000l towards the end of Feb - if it reaches 25ppl, I'll start filling some buckets with it!

 

[adwol48]

i generally only buy 500-700l at once as that generally lasts me a good half of the year. paid 36p/l on 500l about a month ago. prices went back up after that but given how low brent crude and other prices are it may take a while for it to filter down the supply chain as dsitributors wont want to make a loss on the oil they have already purchased weeks ago, think of it like petrol prices they usually take a month to reflect the price changes.

 

[BUDFORCE]

Our tank is down to about 1/4 so keeping an eye on the price of kerosene.

We'll hold off for a while.

 

[moon man]

im getting nowhere near these lower prices .no 1 i get 500l a time and the pipe has to go over my neighbours fence ,so not everyone will do this ,still seeing some nice savings ,im thinking my boiler uses 1.5 litres an hour if boiler working 70 percent of time ,could be miles out but i only have on maybe 2 to 2.5 hours a day ,west facing helps ,afternoon early evening

 

[Mr.E.]

I work for a fuel distribution company.

Kero price is up 1p today, still very low though. Our selling price is low 30's

 

[moon man]

i use this for a rough idea but tbh tend to mistime it ,apart from last time

https://www.cheapestoil.co.uk/articles/trend

 

[DXP55]

I jumped the gun to early and paid 33.9p a week ago - should have waited but it was still better than 45.9p last year. I wish I had a few 50 gal plastic barrels.

 

[bigfoot4616]

had a first fill for a new system just before christmas at 52ppl for 1300l, due to the plumber boiler never got fitted until late january and its only heating upstairs and hot water to the ensuite at the moment and still got 90% left so by the time i need some more it'll likely be back up to a similar price.

 

[task]

I got a 1000L price yesterday of 24.93p/L (+vat) from boilerjuice, not sure I can fit that much in yet though. I was paying nearly twice that at the start of winter though so it's a great time to stock up the tank if you've got the room.

 

[adwol48]

thats really cheap boiler juice around me in norfolk says 32.59+vat

 

[Orionaut]

I got a 1000L price yesterday of 24.93p/L (+vat) from boilerjuice, not sure I can fit that much in yet though. I was paying nearly twice that at the start of winter though so it's a great time to stock up the tank if you've got the room.

At that price I would be tempted to buy a second tank and stock up!

But for the transport problems (I have a suitable lorry but there are the travel restrictions and that the fact that I would have to manhandle it on my own to consider) there are some pretty cheap ones on e-bay.

Actually, Would collecting a heating oil tank be considered an acceptable "Essential Journey"?

 

[Jez]

“Today we have a fantastic price of just 24.97 ppl in OX18 for 1000litres”

Wow cheapest I’ve ever seen it

 

[Orionaut]

“Today we have a fantastic price of just 24.97 ppl in OX18 for 1000litres”

Wow cheapest I’ve ever seen it

Its an ill wind that blows nobody good!

 

[task]

At that price I would be tempted to buy a second tank and stock up!

But for the transport problems (I have a suitable lorry but there are the travel restrictions and that the fact that I would have to manhandle it on my own to consider) there are some pretty cheap ones on e-bay.

Actually, Would collecting a heating oil tank be considered an acceptable "Essential Journey"?

I had considered a second tank

 

[pigeonguyuk]

Hi All

(Admin Delete if this is a duplicate of a similar thread)

My oil ran out last night so I had a look at prices and was pleased to see a steep drop in prices. The last delivery I had was 300L around Nov time and it was circa £180 and now the same is circa £115

Anyone in the know with coming into the summer if this trend will continue and wait to fill the 1100L tank.

£323 would get me 1000L (32p/L) which it hasn't been sine Aug/Sept 2016

Should I buy now and then be ****** off if it drops more?

 

[#Chri5#]

There's a recent thread here: https://forums.overclockers.co.uk/t...ng-before-crude-prices-work-through.18881935/

Somebody on there was offered 24.9ppl a few days ago, so you could possibly save 20% if that prices filters through to your supplier - depends how desperate you are to have heating and/or hot water...

 

[pigeonguyuk]

Cheers.. decided to order 500L which cost £165.07 as have run out just so we have some, if prices fall further or start to go up will fill the tank.

 

[adwol48]

I assume you are aware how to bleed an oil boiler once the oil has run out.