UK Kerosene Heating Oil Price Trend for February 6th

6 February 2012

Posted by John King

Home heating oil prices in the UK have been climbing rapidly in the past few days, with large increases being seen over the weekend and into this morning (February 6th).

After hitting a monthly low of around 58.6p per litre (ex VAT) towards the end of January, steep rises have been seen, adding almost 2p to the cost of the commodity.

Saturday saw the biggest single-day hike in almost a month, increasing by around 0.6p per litre, before further climbs were seen yesterday and today.

This has taken the average cost of heating oil in the UK to just above 60.5p per litre - the highest level since mid-December.

Meanwhile, the gap between West Texas Intermediate and Brent crude has widened for an eighth day as fears grow among investors the Greek economy will collapse and threaten the eurozone, Bloomberg reports.

It noted Brent for March settlement was trading at $114.36 (£72.51) this morning, $17.30 more than the US standard.

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