Heating Oil

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Tue 28 Jun 2011 09:28
Heating Oil - ohsoslow

It is nearing time for my annual gamble. My tank is now down to 1/10 full, we are very unlikely to use any more oil until autumn as it is solely for heating and a little for hot water, so I am not desperate..

There seems to be a trend that the oil price is falling, heating oil about 5p per litre since the last time I checked, so the gamble is:

Buy now while the price is relatively low, but oil prices still seem to be dropping if forecourt petrol prices are anything to go by.

Wait until August / September, mid summer, normally lowest demand therefore lower prices.

Any thoughts?

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Tue 28 Jun 2011 09:31
Heating Oil - Bobbin Threadbare

Half now, half later.

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Tue 28 Jun 2011 10:44
Heating Oil - ohsoslow

Could be one solution Bobbin.

The firm I normally use as they are often good with their prices but charge more for deliveries of less than 1000l. Possibly because we are a little out in the sticks.

I normally go for one delivery of 1000l in the summer and can forget it 'till next year. Our fuel use has dropped dramatically since last daughter left home, I have also upped the insulation where possible.

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Tue 28 Jun 2011 14:36
Heating Oil - unthrottled

I think everyone who uses oil is out in the sticks!

My dad used to have this dilemma every year. Trying to catch the nadir of a market is an elusive skill. Really, it's a question of whether the oil price will carry on falling. I reckon anything below $80/barrell is pretty good nowadays.

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