Posted by Kim Bardsley
Homeowners in rural areas may be inclined to start using heating oil if they are not doing so already, after a study demonstrated it is significantly cheaper than liquefied petroleum gas (LPG).
The Oil Firing Technical Association (Oftec) looked at the prices of commodities and found there is now very little difference in the cost of heating a three-bedroom house with oil, electricity or wood pellets thanks to crude oil becoming less expensive.
In 2008, oil was 19 per cent cheaper than LPG, but that figure has now risen to 27 per cent.
The news comes after Oftec also said back in April that oil is much safer than gas, piped LPG and solid fuel.
There had been no carbon monoxide poisoning fatalities and only three non-fatal incidents in the UK between July 2010 and June 2011 among customers using the fuel, the Gas Safety Trust found.
In the newest Oftec study, it was also noted that customers were managing to use less fuel of any kind between 2009 and 2010 when more people were fitting new condensing boilers.
Jeremy Hawksley from the organisation said: "Oil is still one of the most competitive fuels for off-gas main properties in rural areas and it's reassuring that the move towards condensing boilers has helped contribute to a reduction in fuel poverty."
The news could lead to a renewed call for a return of the boiler scrappage scheme, as it is likely to be this initiative that encouraged Britons to swap their old models for new in the timeframe examined.
Brett Amphlett from the Builders' Merchants Federation recently said in the company's magazine he thinks it would be of huge benefit to homeowners while also costing the government very little.
Having more efficient boilers would result in homes having to spend much less on their heating bills, even if winters continue to be as cold as they have been for the past few years.
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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.