Heating Oil Price Still Falling

OFTEC, OFTEC Logo, OFTEC registered technician

Oil prices are continuing to drop and it doesn’t look like there will be any massize change in the trend for a while yet says OFTEC report.

Why not take advantage of favourable market conditions and replace that tank with a crack in it, upgrade the size and buy even more better!

Not sure about the facts?  Gen up on the report below:

“According to the latest quarterly data from the Sutherland Tables, a recognised independent source of comparative UK domestic heating prices, oil remains by far the cheapest of all major home heating fuels, with average annual costs in Great Britain falling 10% in the last quarter to just £840.
By comparison, the average annual heating cost for the same three bedroom home with electric storage heaters rose by 9% to £1910 – 127% more expensive than heating oil – with further electricity price rises on the horizon this September for many households.

Oil is also currently 13% cheaper than mains gas (£967 per annum), 44% less expensive than LPG (£1524 per annum), 34% cheaper than biomass (£1283 per annum) and 50% less expensive than air source heat pumps using radiators (£1681).”

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