BoilerJuice Home Heating Oil Price Trend for February 22nd

22 February 2012

Posted by John King

Prices for heating oil in the UK have risen slightly today (February 22nd), reversing some of the losses that were recorded in the early part of the week.

The commodity lost nearly half a penny over the last week, falling from a high of 61.5p per litre (ex VAT) on February 14th to 61.04p on Monday.

However, the last two days have seen slight increases in the cost of the fuel, with the average price increasing to 61.15p per litre this morning.

Meanwhile, Reuters reports international oil markets have retreated slightly today, falling from a nine-month high on the back of weak economic data from Europe and China.

After settling at $121.66 (£77.61) yesterday, the publication noted it lost 54 cents in morning trading, though investors remained confident prices will continue to be strong.

Oil analyst at Redmayne Bentley in Henley Nick MacGregor said: "There's an underlying sense that between the geopolitical concern and the potential for a resurgent U.S. economy, data would have to be pretty grotty to have a marked impact."

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