Domestic Heating Oil Prices In The UK
Here in the UK, more than 1.5 million of us use domestic heating oil. Also known as kerosene heating oil, this heating source is more often found in rural areas, where over one million British homes are not connected to the national gas grid.
With the volatile nature of energy prices, we understand that you may be concerned about your domestic oil prices and heating costs and want to make sure you’re getting the best price possible. In this guide, we cover everything you need to know about the price of domestic heating oil, including how much does heating oil cost, and how you can find the best deal.
Are or will home heating oil costs be going up or down?
There are many reasons why the cost of domestic heating oil prices can go up or drop, including supply and demand, events in oil-producing countries, exchange rate, refinery prices, and overall heating oil use. Due to these factors, the price of domestic heating oil tends to increase or decrease on a daily basis, which makes it difficult to forecast.
There are many ways to reduce heating oil usage around your home and you can find on the Your NRG site some of the top energy saving advice.
Why could the current price of home heating oil go up or become more expensive?
As outlined above, there are many reasons why the cost of domestic heating oil can rise or fall. Energy prices have increased as of April 2022 across the UK and this includes electricity, gas and kerosene heating oil. One of the biggest reasons for this is from the impact of the Russia-Ukraine war which has had an impact on domestic heating oil prices. Here at Your NRG, we are still committed to providing you with the best current prices for domestic heating oil but if you do have any concerns, contact our advisors who will be happy to help you.
When will home heating oil prices drop and when is it the cheapest?
Kerosene heating oil prices generally go down and are at their cheapest when the demand this lower. In the UK, this means heating oil prices are often at their lowest during the warmer summer months of June, July and August. During the colder winter months as the demand increases and heating oil consumption goes up, and as a result, this affects heating oil prices.
To help you find the cheapest price during these unprecedented times, take a look at our savings plan. We created our exclusive personal savings plans to spread to cost of your kerosene heating oil and make heating your home more affordable. Your NRG prides itself on providing the best quality fuel at the cheapest price, to get a quote for your heating oil requirements use our quick and easy quote tool.
How much is domestic heating oil and what is the average cost per litre?
How much domestic kerosene or home heating oil costs can vary, with changes from day to day depending on the season, the demand and how the pound is performing against the US dollar. However, this domestic heating oil graph from the ONS shows the price history over the last decade. At the end of 2021, the average price per 1,000 litres (220 gallons) of heating oil was 61,917 pence (or £619.17). This figure can be compared to 2012, when domestic heating oil was priced at 60,816 pence (or £608.16) per 1,000 litres of home heating oil.
How much is the domestic heating oil tax?
As outlined on the Gov website, the VAT for home heating is charged at a reduced rate of 5% — approximately 9.78 pence per litre. This is significantly lower than other types of fuel like petrol and diesel, with fuel used for vehicles charged at the standard 20% rate of VAT.
How much home heating oil do I need?
According to a review published by Ofgem, the average UK household uses 12,400kWh of gas annually. This equates to approximately 1,250 litres of home heating oil per year. However, it is important to remember that this figure will vary according to the size of your property, how often you turn on your central heating and the age/condition of your boiler. To help you calculate your energy costs, we’ve also created a handy tank volume calculator. This can give you an idea of how much you may need to pay.
How to compare heating oil prices
The easiest way to find the best price on your kerosene heating oil is to secure quotes. Here at Your NRG, you can get a fast domestic heating oil quote, that reflects the latest heating oil prices, online by filling out this simple form. Just tell us your details and how many litres you need, and we’ll get back to you with our best home heating oil rates. Additionally, we offer our unique Remote Tank Monitoring service, so you can be sure you always have enough heating oil to power your home. This means you’ll never have to worry about the expense of arranging a home heating oil emergency delivery.
How to order home heating oil online at Your NRG
It’s easy to buy home heating oil on our website. After generating your free domestic heating oil quote, select the green ‘order’ button to proceed. Alternatively, if you have logged into the ‘Account Dashboard’ at the top of the page, you can press ‘New Order’ to purchase heating oil. Whether you need to refill your tank or you require domestic heating oil in small quantities, we can help.
What’s more, if you’re wondering, ‘what are the home heating oil rates near me’, as UK-wide domestic heating oil suppliers, we have a number of depot locations, and each depot is committed to providing you with the best rates. If you have any further questions you want to find out how to heat your home for less, get in contact with our friendly team or speak to your nearest depot to find out more.
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