Heating Oil Prices Are Low: Time to Fill Up?

When other energy prices are rising relentlessly, heating oil remains a great value fuel to heat your home and business. And its price is dropping! In fact, compared to 2 years ago, heating oil prices are 29% down according to Boiler Juice, the heating oil suppliers. This is their chart:

Whilst heating oil prices are not quite as low as the normal June dip this year, they are still good value ahead of the Autumn rush at around 54 p per litre including 5% Vat. Several heating oil suppliers are still offering introductory discounts and group buy offers so there are still some bargains to be had if you phone around.

Why Heating Oil Prices Are Traditionally Lower in Summer

Demand is a major factor. The warmer months mean households simply aren’t using their boilers as often, which naturally reduces demand. With less pressure on the supply chain, prices typically fall. There’s also the benefit of fewer weather-related disruptions. Snow, storms and icy roads can cause delays and shortages in winter, all of which drive prices up.

Around 1.5 million off-grid homes in the UK use oil for heating, and many homeowners are already wise to this seasonal pattern. By planning ahead and filling up when prices are low, you can also avoid the winter rush and the higher prices that come with it.

Have Global Events Changed the Usual Trend This Year?

Summer usually means lower prices, but it’s always worth keeping an eye on global events that can throw things off course.

Tensions in the Middle East, for instance, can quickly push up the cost of crude oil worldwide. The upward spike in late June in the above graph coincides with the latest conflict in the Middle East. 

So, yes, certain major events do affect heating oil price movements. However, price fluctuations also depend on other factors such as how much wholesalers have already paid for their stock and how quickly they adjust pricing. 

Real Cost Example: Filling a 1300 litre Tank Today

Let’s put this into perspective. According to Boiler Juice’s numbers, average UK heating oil prices are currently 54 p per litre. 

If you’re filling a standard 1300 litre tank, that’s a total of £702.00.

Compare that to winter, when prices can easily climb to 65–80p per litre. At a hypothetical winter price of 75p per litre, the same 1300 litre fill would cost you £975.00 – over £270 more.

Take Advantage of Spare Tank Capacity and Plan Ahead

Even if your tank isn’t completely empty, topping it up while prices are low can still be a wise move. A half-full tank now is better than an empty one in January, when the price per litre could be much higher.

Other Tips for Heating Oil Buyers

A few simple habits can help you stay ahead of price hikes:

• Sign up for price alerts from sites like BoilerJuice or FuelTool so you know when to buy.
• Look for cashback offers or trade discounts 
• Alternatively, join a local buying group if available – bulk deliveries can reduce per-litre costs.
• Keep your tank accessible and clean – overgrown plants and debris can make summer deliveries harder.
• If you need or want to change your tank and like a bargain (who doesn’t?), keep an eye on our great Clearance Deals!

Does Your Oil Tank Need Upgrading or Replacing?

Before you book a delivery, check the condition of your tank. If it’s showing signs of wear or nearing the end of its life, it might be time to upgrade. Secure, bunded models are safer and more efficient, especially if you’re refilling soon. 

Plastic Bunded Oil Tanks, such as the 1250L Slimline and 1300L Low Profile from the Atlantis Tanks range, are popular for off-grid homes. And don’t forget a metal alternative such as our new range of steel bunded oil tanks made with Imperium® Technology.

You can also find further practical advice in our blogs:

• Choosing the right oil tank for domestic heating 
• Planning a New External Oil Storage Tank? Read This!
   

Thinking of upgrading or replacing your tank?

Our friendly, helpful team will be happy to guide you through the process of selecting the optimum heating oil tank for you and your premises. For further information, phone 0330 999 1100, email [email protected], or contact us online at https://atlantistanks.co.uk/contact/.