Heating oil - how much!

See also fences, petrol, 'lectric, gas and Haribo.

It's currently up to 4x what it was this time last year in my area.... Which matches your figures above. (I'm Cotswolds).

Expect that to double again by this time next year…

Yep, I'm seriously considering pulling out of a house purchase because it's got oil-fired heating and hot water.

Same here in S Cotswolds, luckily we got lots thru boiler juice not long ago 👍 just bought diesel at 197.9 though 😟 (thank god it’s work truck)

Paid 58p a litre in January.

Got quoted £1.44 a litre yesterday.

I turned the heating off.

My dad has just had the same - very similar prices to the OP. I can only hope that this massive spike is more about uncertainty rather than and true cost (albeit I would expect it to go up like everything else).

OP - here's the trend - you are about a month late in ordering it (I know that doesn't help when you are buying to fill a tank):

https://www.boilerjuice.com/heating-oil-prices/

of course its roughly following crude prices; perhaps the only thing you could do to mitigate it (other than reduce use) is get a second tank so you can try to time your purchases when its cheaper rather than feeling compelled to buy as the tank is low.

Yep, I’m seriously considering pulling out of a house purchase because it’s got oil-fired heating and hot water.

if you don't buy that house what will you buy instead? presumably (unless you can find and afford some s****y new passive house) it will still need heating etc? Wholesale electric and Gas prices have risen by similar %ages.

We've got half a 1300l tank left, was thinking to top it up it up before things get even worse, but I think a smaller delivery might be an even higher unit cost.

Edit: the monitor shows 5 bars of 10 remaining, so maybe 600l+ to top up, but not sure on its accuracy

if you don’t buy that house what will you buy instead? presumably (unless you can find and afford some s****y new passive house) it will still need heating etc?

Staying where I am would be the plan.

Weber got half a 1300l tank left, was thinking to top it up it up before things get even worse, but I think a smaller delivery might be an even higher unit cost.

i wouldnt be rushing to keep my tank topped up.

Right now is the worst combo of times to do it kneejerk if not needed. Always increased demand and cost this time of year. + the reaction to the taps being turned down.

I topped mine up start of feb - had been swithering on holding off but we dropped to 1about then so pulled trigger - that was 800 quid to fill 1400l. so stands to reason at current rate that would be 1600 quid.

Paid 58p a litre in January.

Got quoted £1.44 a litre yesterday.

I turned the heating off.

how small is your tank that you need more 2 months later....

tomhoward
Full Member
Expect that to double again by this time next year…

source ?

Yeh, I guess as we'll be using heating less, the half a tank/600l left should last us a handful of months yet.

Only have it on for water and hour morning and tea time. On for heating 6.30-9am, 4.30-8.30pm. We've cut out an hour at lunch.

Got 700l to top up our 1000l tank in Jan, 62ppl from Homefuels Direct. They're now quoting 104ppl. Yoiks. We should just have enough to get through to April, when the heating will (mostly) go off and the solar will (mostly) take care of the hot water

We've already cut our monthly spends budget by £100 a month to try and offset the fuel we'll need next winter.

On current exchange rates, i'm already paying over 2 quid a litre of diesel.

Just paid for some bottled gas and it's gone up 20% since before xmas as well!

Just paid for some bottled gas and it’s gone up 20% since before Xmas as well!

Yeah, we'll need to get some 47kg bottles at some point, they've been £59 each since November (they were a bit cheaper before then, can't remember exactly how much)

Expect that to double again by this time next year…

I'd expect it to fall. We're at maximum uncertainty right now so prices have maximum risk priced in. By next year, we'll have reached steady state on post Covid / Ukraine and prices should drop to reflect the lower risk.

If I made a press how much oil could I squeeze out of two children? Hypothetically.

I’d expect it to fall. We’re at maximum uncertainty right now so prices have maximum risk priced in. By next year, we’ll have reached steady state on post Covid / Ukraine and prices should drop to reflect the lower risk.

Unless Russia cuts the gas off then prices are only going one way.

178ppl in SN14. I paid 62ppl 3weeks ago. This was the most I've ever paid in 8 year on oil heating

of course its roughly following crude prices; perhaps the only thing you could do to mitigate it (other than reduce use) is get a second tank so you can try to time your purchases when its cheaper rather than feeling compelled to buy as the tank is low.

How much do you think it costs to install another tank, and connect it up plus need the space and the associated groundwork and 'mounts'?

I've got about half a 1300l tank left. I'll wait until the summer to refill. Good idea up there about a 2nd tank. Or perhaps swapping it for a bigger tank to buy more oil when it's lower in price. We could probaby manage a year on one 2500l tank and buying in a bit more bulk may make it a bit cheaper too.

plus need the space and the associated groundwork and ‘mounts’?

Have you seen the latest building regs! You need masses of space around and oil tank these days.

The price is going to keep going up for now with that war thing going on.

Is the price rise any more though than electric or gas will be ? Its certainly cheaper than swapping to an alternative.

We are just about to replace our 20 year old oil boiler (as starting to break). Hopefully we will get a small increase in efficiency

Its not the good old days of lockdown where we filled up for 26p per litre

How much do you think it costs to install another tank, and connect it up plus need the space and the associated groundwork and ‘mounts’?

Exactly. I'm going to say north of three grand, and even at these prices that'll take a while to claw back.

Had a new bunded tank installed in October - easy access and connections - cost was £2,500. This was a 1200l tank replacing the old single skin 2,500l tank. Not the best timed decision with hindsight!

Yep, I’m seriously considering pulling out of a house purchase because it’s got oil-fired heating and hot water.

Seems a bit hasty. I think oil is generally cheaper in my experience. We use about 1500l per annum. That’s usually about £750 or so per annum. What’s your gas bill? Is it more than 75 per month?

Heating oil has cost me between 19p and 75p over the last 4 years and not just in a climb upwards

We were on 2 bars of a 1200L tank 2 weeks ago and got 1000L for £750 ish from Johnson oils. This is in fife on a 10 working day turnaround and has just been delivered today. However, very luckily, this was ordered literally just before the war started.

That’s usually about £750 or so per annum. What’s your gas bill? Is it more than 75 per month?

4 bed house, gas fired central heating/combi boiler and an old inefficient gas fired Aga and our bill is £360 per year so yes, much much cheaper. Even on the incoming rates it'll be well under £450.

I would not be buying a house with oil fired heating at the moment...

Bought 500l on monday - £522. If i wanted 500l today - £659.

8 weeks ago - 500l was £291

This will last me to summer and beyond now (the 500l will have topped up the tank - 1200l tank)

Im on a fixed electric tariff until July. Might be more cost effective to use electric heating!

Just to make people feel better, our new house seems to be the least efficient thing ever. Looking at 3200L/year, which at current prices is about 550/month.

That's with the thermostat at 17 degrees for 6 hours a day before someone tells me to turn it down (I have anyway. A balmy 13 degrees after 630 and 16 from 730).

I filled up in Feb at 60p/L but I suspect prices will still be crazy when the next time comes around.

If I made a press how much oil could I squeeze out of two children? Hypothetically.

Depends how greasy they are i guess...

Anthracite hasn't changed - might buy another ton in case the suppliers decide to bump the cost a bit.

And I thought having a coal fired boiler was a complete hassle and we should switch to oil...

4 bed house, gas fired central heating/combi boiler and an old inefficient gas fired Aga and our bill is £360 per year so yes, much much cheaper. Even on the incoming rates it’ll be well under £450.

I would not be buying a house with oil fired heating at the moment…

Surely you mean not buying an inefficient house ..... Because either your house is insulated to the hilt or you don't have the heating on. My old 1 bed flat cost that to Heat on gas 10 years ago......

Oil prices are crazy, somehow hasn’t hit the media though- perhaps because none of the papers are based in rural locations without gas.

It’s bad enough ‘normal’ fuel prices are going up, but how are people struggling going to be able to pay 100% more on heating oil? It’s much more painful as generally needs to be paid for all at once.

Does seem that the prices have ramped up more steeply than the crude oil though. If petrol diesel had done at the same rate it would be over £2.50 a litre (obvs taxes are different).

I think this will hit struggling families harder than the gas - as those locations on oil are also likely to be rural with greater reliance on cars too.

It’s much more painful as generally needs to be paid for all at once.

No it doesn't. Only if you choose to do it that way. It does how ever have to be paid for upfront.

For the past few years oil users have been very smug when thinking of the fait of us LPG users. I have had my head in the sand (and my hand in the woodshed- a lot) but I'm assuming if it's bad for you lot, LPG prices are going to make me faint.

No it doesn’t. Only if you choose to do it that way. It does how ever have to be paid for upfront.

Same thing - go and see how expensive oil is to buy when you only want 100l delivered.

It’s much more painful as generally needs to be paid for all at once.

No it doesn’t. Only if you choose to do it that way. It does how ever have to be paid for upfront.

Yeh we looked at paying X amount monthly to a company towards future refils, but decided not to as we have a choice of 3 suppliers where we are, better to bank the money and then hopefully choose the best priced supplier when it's needed. But still need the cash one way or another, not like DD for gas and elec for supplies used.

Same thing – go and see how expensive oil is to buy when you only want 100l delivered.

Not sure you understand the concept.

But still need the cash one way or another -the same as you do for the DD for gas and elec for supplies used.

My energy bills are about to double and I actually feel quite lucky!
You guys might have to adapt them for used cooking oil!

You guys might have to adapt them for used cooking oil!

Virgin veg oil is about 1.20 a litre looking at google on supermarket shelves..... Wonder how much it is in 20l containers.

My 200tdi will lap that up.

It’s much more painful as generally needs to be paid for all at once.
No it doesn’t. Only if you choose to do it that way. It does how ever have to be paid for upfront.

Yes sorry - I meant paid for upfront, not as in having to get 1200l at once. An increase of hundreds of pounds on a purchase like this is a big hit.

Unless Russia cuts the gas off then prices are only going one way.

Not really true.
The price of oil can and very definitely does drop as well as rise and it has actually been falling for the last 24 hours.

OPEC are gradually increasing production and have been for some time. The actions of Russia have not changed that rate of increase although the United Arab Emirates have said that they would support a faster increase.

I fully expect prices to have dropped to something a bit more palatable by the summer.
Whether that is in time for me is doubtful! We have about 7" left in the bottom of our 2,500 L tank 😖
But the days are getting longer and from next month I'm hoping to be able to switch off the boiler completely as our solar PV will take care of the hot water.
Whether any of these things come to pass is another matter, but it's nice to see the graph dropping down at the moment.

The problem is also availability, at any cost.
Local suppliers are refusing to quote or even provide guide delivery times.
We paid 50ppl mid Feb.
We get through 3,500 litres a year. It covers 4 bedroom house and an old oil Aga.
Thankfully we are nearing the end of the frosty mornings, but the Aga will still require supply.

I rather think this will be an extended period of high prices, extreme volatility and uncertain supply times. I'm really not looking forward to next winter.

Local suppliers are refusing to quote or even provide guide delivery times.

That’s odd, they fill their tank at £x amount then just pass that on + margin should be that difficult to quote for a delivery the next day

Virgin veg oil is about 1.20 a litre looking at google on supermarket shelves…..

Google how much veg oil Ukraine produces for the world market

Buy now

Yep, not many local suppliers prepared to quote at the moment (HR7). Even boilerjuice.com doesn't come up with anything in our area. Best I could get was 'order it now and we'll quote on the day of delivery and that will be in two weeks time'!

I've a couple of hundred litres in the bottom of a 1200ltr tank, should be okay until next month.

The real question is hold off or buy in now hedging the price going up a lot more? 🤔

That’s odd, they fill their tank at £x amount then just pass that on + margin should be that difficult to quote for a delivery the next day

Not that odd.

Probably don't hold 3-4 weeks worth of fuel in their tank and don't hedge forwards to know what the fuel in their tanks by the time they actually have an availible slot will cost.

Your unlikely to get a next day slot given the lack of willing oil truck drivers and driver hours....

It’s bad enough ‘normal’ fuel prices are going up, but how are people struggling going to be able to pay 100% more on heating oil? It’s much more painful as generally needs to be paid for all at once.

It’s fairly predictable when it’s running out so it’s not normally a surprise. We know that we need to buy oil a couple of times a year. I guess you could even create a direct debit to yourself if needs be. It’s usually only a few hundred quid.