Alto Energy | Blog

HEATING OIL PRICES - MARCH 2018 UPDATE

UK Average Home Heating Oil Prices

This graph is taken from www.boilerjuice.com. It shows heating oil prices for a period of 2 years.

They check the cost of 1,000 litres of heating oil from every participating supplier in their database. They compared heating oil suppliers and take their lowest price. They do this for every postcode district, using this information to calculate the average UK heating oil price available through their website (including VAT at 5%).

What affects heating oil prices?

There are many factors that contribute to fluctuations of heating oil prices:

  • Increase in demand
  • OPEC
  • Conflict in oil producing countries
  • VAT rates
  • Distribution and delivery costs
  • Refining costs
  • Exchange rates
  • Weather
  • Crude oil prices