How Much is Heating Oil Per Litre in the UK?
Oil boilers can be a cost effective heating solution, but how much does it cost to run one? Here, we take a look at the price of heating oil, how the price is determined, and how much fuel a boiler typically uses. We also examine how long you can expect heating oil to last for and ways you can bring your heating oil cost down.
What is the Heating Oil Price Per Litre Today?
Home heating oil prices vary daily and there are a number of factors that impact how much heating oil is per litre today. So, we can’t offer an accurate live price feed. Our mission is to deliver cheaper heating oil to our customers, so you can trust that you get a good deal with us.
Read on to learn more about what affects our heating oil prices. Or, request an instant quote to get an accurate price for your order.
How much will I pay for heating oil?
There is no set price for heating oil and the amount you pay will depend on a range of factors, including the type of oil you run your appliance on. Options include standard kerosene and premium kerosene. These fuels are all priced differently. For example, premium kerosene is more expensive than the standard version. The price of heating oil also fluctuates throughout the year, so when you buy your fuel will have an effect on how much it costs.
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What determines oil prices?
A whole range of factors impact the prices per litre of heating oil, and many of these are out of the hands of distributors. Reasons for changing oil prices include:
The global price of crude oil – If the production of crude oil falls and demand remains consistent, prices are likely to rise, and vice versa if there is an increase in global production.
Geopolitical factors in oil producing countries – If there are conflicts or periods of civil unrest in these areas, this can reduce supply and cause price increases.
Currency values – Oil is traded in US dollars, so the exchange rate between the dollar and the pound will influence the price eventually paid by consumers.
Weather – If demand falls or rises due to increasing temperatures, or before the onset of winter then prices will likely change in line with current forecasts. Heating oil prices near you may be lower in summer.
Transport – Prices are also likely to rise if supply is restricted because of transport issues. For instance, bad weather can make it more difficult to move oil around, causing a temporary spike in prices.
Quantity – The amount of oil you order may impact on the price you pay per litre too. If your supplier delivers large quantities to you, typically the cost per litre will be lower than if you order smaller quantities.
How much oil does a boiler use?
Oil boilers burn different amounts of fuel depending on their size, their efficiency and how many hours they’re used per day. Whether you use heating oil solely for heating, or to provide both heating and hot water, also determines how much fuel your oil boiler uses. This means it’s very difficult to provide accurate estimates of how much fuel the average appliance burns, and how much your heating oil will cost.
When the water in your heating system is already hot and your appliance is simply maintaining this level of warmth, it will burn much less oil. Of course, there are also likely to be times when your heating system is not on at all and you’re therefore not burning any fuel.
The size of your home and how well insulated it is will also have an effect on how much oil your boiler burns. If you have a big and/or poorly insulated house, you’ll need to use your boiler much more than if your property is easy to heat up and keep warm.
This level of variation means that for some households, 1,000 litres of fuel is enough to stay cosy throughout the entire year. But for others, this may not be enough to get them through winter.
How long does home heating oil last?
Heating oil lasts for a long time. Provided that you store it correctly and it contains the right additives, it should remain in good condition for 18 to 24 months. However, there are certain factors that can degrade the fuel prematurely.
For example, a corroded tank can lead to oil becoming contaminated with rust. Similarly, if your heating oil tank isn’t properly sealed, dirt, water and debris can enter it and affect the condition of the fuel. Using contaminated fuel is bad for your boiler, so it’s worth getting an expert opinion.
If you suspect your heating oil is contaminated, get an OFTEC registered technician to come and check it for you.
How to save on oil heating costs
You might not have any control over the global and national factors that dictate oil prices, but there are a number of things you can do to bring your spending on this fuel down. Here are some pointers to help you cut your heating oil costs.
Be savvy with your shopping
By planning ahead, it’s possible to be shrewd with your fuel shopping and take advantage of cheap heating oil prices. Ideally, you should order heating oil at a time when the balance of supply and demand is in the buyer’s favour. This could be during spells of warm weather when there’s typically lower demand for heating fuel, or when there’s an oversupply on the global oil market. Buying at times like this could help you get the best price on your heating oil.
Keep an eye on your heating oil level throughout the year and shop around for the best deals. Monitoring market trends will also help give you a clearer idea of what you should be paying for your fuel. This will help ensure you don’t spend more than you need to. The Office of National Statistics plots the price of heating oil throughout the year so you can see when it is more likely to be at its cheapest.
Keep your oil boiler and tank in good condition
It pays to think of your boiler a bit like your car. Just as you take your vehicle for regular services it’s important to schedule regular check-ups for your boiler. Getting an OFTEC registered heating engineer to service your appliance once a year will help to ensure it operates as efficiently as possible. Make sure the specialist checks your oil tank too to ensure it’s in good condition and there are no leaks.
Regular servicing will mean you get maximum value for money from each unit of fuel your appliance burns.
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Make your home more energy efficient
Taking steps to make your property more energy efficient can help heating oil last longer too and stretch the cost per litre. Some ways to improve the energy efficiency of your home include:
Improve your insulation – If your home has cavity walls, an insulating layer can be blown into the gap. If your house has solid walls, you can insulate either the interior or exterior. Solid wall insulation is more expensive than cavity wall insulation, but it also brings greater energy savings.
Draught proofing – This is a quick, easy and cheap way to bring your heating bills down. As well as getting draught excluders for the bottom of your doors, buy window strips to prevent air from getting in and out around your window frames. Even things as small and simple as letterbox brushes and keyhole covers can make your home better at retaining heat.
Think about your heating system – If you only have basic controls, it might be time to upgrade. Your full set of heating controls should include a timer or programmer, room thermostat, boiler thermostat and thermostatic radiator valves. You might also benefit from getting smart heating controls that mean you can manage your heating system remotely from your phone or tablet.
Check pipes and radiators – Insulating your central heating pipes with foam tubes could make your system more efficient. If you notice cold spots in your radiators, try bleeding them to remove trapped air.
If your radiators still have cool areas even after you’ve bled them, there could be sludge in your heating system. If this is the case, you could arrange a powerflush. This process involves an engineer pumping special chemicals through your heating system to get rid of any debris and sludge.
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