21 May 2020
Heating oil prices at their lowest for three years

Heating oil prices at their lowest for three years

Home heating oil prices have dropped 30% over the first three months of the year. It now costs on average 36p per litre making it currently the cheapest fuel to use to heat your home.

The global Coronavirus pandemic has shut factories and greatly reduced road and air traffic all over the world, meaning much less oil is being used. This means that the Brent Crude oil used across Europe has fallen from $70 a barrel in March to just above $20 – its lowest level since 2002.

Save money by filling your oil tank soon

A typical heating oil tank holds between 1,000 and 2,000 litres. We estimate you could save around £120 by filling your tank now compared with three months ago.

You should allow for delays as demand is at it’s highest. It’s likely that some customers will be prioritised over others (people who are self-isolating, in a vulnerable group according to the government, or aged over 70).

This is great news for all of our oil heating customers. For other more permanent ways to save money on your heating, check out our five ways to cut your energy bills tips below.

Using your heating system more than ever?

With many of us spending more time at home during the lockdown – and therefore using your heating much more than normal – your heating system will be more active than usual. It may require maintenance sooner and more often than ever before.

You can contact us – even during the current lockdown period – to arrange a service or repair for your oil heating system.

Five ways to cut your energy bills all year round

  1. Upgrade your heating controls

    Accurately controlling the temperature around your home with a smart thermostat can help you reduce wasted energy. For example, you can keep your most-used rooms warmer, and turn the heating down in rooms you use less often
  2. Check for draughts and block them

    Check your windows, doors, chimneys, fireplaces and lofts for heat escaping – you can save money each winter by preventing this heat leaving your home
  3. Fit insulation in your loft, or top up existing insulation.

  4. Install a water-efficient showerhead.

    These keep your shower feeling powerful while cutting your hot water use
  5. Ensure your heating oil system is running efficiently

    Get your heating oil tank serviced and check it regularly to avoid a leak. An oil heating engineer can check your whole system to ensure it’s running as efficiently as possible, and spot any potential issues before they develop into major problems

We’re here to help with your oil heating

Our experienced heating engineer can perform assessments of your oil heating system to see where you could save money. We also provide oil heating servicing and oil heating repairs right across the East Coast of Scotland.

If you still need some advice, call our friendly team on 0800 3899 463 (Mon to Fri, 9am to 5pm) for help, or use our online enquiry form.

Written by Kingdom Gas Services team