Cheaper heating bills for oil-heated households

Recent figures show that the price of oil for heating purposes has fallen over the past three years thus making it by far the cheapest option for off gas grid households in the UK. The decrease in oil price is, according to a new report from DECC, set to continue over the next couple of years whereas the gas prices are predicted to rise over the same period. The wholesale prices of oil are expected to fall 11.9% by 2016 in contrast to the expected rise by 14.5% of gas.

Jeremy Hawksley said: “With the efficiency of modern condensing oil boilers matching that of LPG and gas, plus the competitive price of oil, now is a good time to be an oil heating user.”

“Going forward, the instability in the Middle East may well play a part in fluctuating oil prices but with the supply of oil improving, we expect the picture to remain positive - although this is of course difficult to predict with certainty,” he added.

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Eurofuel

Sandrine Devos
Secretary General

Square de Meeûs 35, 3rd floor
B-1000 Brussels

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