Heating Oil Prices

Select an area to see our average Heating Oil prices over previous months.

The price of crude oil changes every day, which means there are daily fluctuations with the price of heating oil.  The oil market is very difficult to predict, however we do know some of the key factors that do influence the price.

OPEC

The Organisation of the Petroleum Exporting Countries (OPEC) meet regularly with its member countries to co-ordinate and agree the stabilization of Global Crude Oil prices along with securing a reliable and economic supply. Heating Oil is refined from crude oil so its price it’s directly affected.

FOREIGN EXCHANGE RATES

Our heating Oil is refined in the UK but the Crude it is refined from is imported from other countries. This means that any changes in exchange rates between currencies directly affect the price of Heating Oil.

INTERNATIONAL CONFLICT

 

Conflict in oil producing countries can destabilise and disrupt world supplies, which affects the price of Crude Oil.

WEATHER

Winter weather inevitably brings increased demand for heating oil and puts pressure on normal delivery conditions in our local communities. Extra demand worldwide in the colder months puts pressure on the global supply of oil often leading to an increase in price.

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At JOE Energy we deliver home heating oil on time and at a competitive price. Contact us now.