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Posted by Bob Burton
Heating oil prices have continued to fall this week, taking them down to their lowest levels since the winter of 2010.
Last Friday (June 22nd), they were at just under 54.1 pence per litre (excluding VAT), but had dipped again to 53.55p per litre by June 23rd.
Mid-week, the decline was even more steep and customers could secure the fuel for just 52.58p per litre.
There was a further slight decrease yesterday, but this was only brief and prices had steadied at 52.58 today (June 29th).
Summer is typically a good time to buy heating oil because demand is low and pushes prices down, but these figures are much lower than last summer, when they were around 54p per litre.
It would therefore be a great time to compare prices during BoilerJuice's buying weekend in order to stock up for the winter.
The possibility of the Bank of England cutting interest rates from 0.5 per cent and a fall in bank shares following revelations about Barclays manipulating rates also helped customers in the global commodities markets.
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Every day we check the lowest 1000 litre price of home heating oil from all our suppliers in all postcode areas and we log the minimum, maximum and average of all these prices. We then provide that information to you in a graph so you can make better decisions when buying your heating oil.More info