I'm really annoyed that I filled up at 34p a few weeks back..... Because of the drastically reduced consumption and the high output after MBS of Saudi Arabia and Putin had a fight and both upped production; there is now a worldwide lack of storage for crude oil. Hence a contract in May for some fracked oil in the USA, sold at -$34/barrel, if my memory serves me. Yes, that's right, the receiver of the oil being paid $34 per barrel he takes!!!! So I think the fuel oil could go even lower and will stay low over the Summer. By the time I need some, it;ll be cack up
I held off a bit longer - 17.31ppl today! The tension is high - this must be what Vegas feels like.... or I have been locked up for too long And I had to put the heating on for a bit cos it’s a bit chilly!
Just ordered 3000litres of heating oil 17ppl. And 8000 litres of red diesel (for tractors) 31ppl. Happy days! I have a diesel back up generator. We use 500 kw/h per day of electric. Making me wonder if I’m better off running generator than mains electric!
On the 20th of last month a barrel of brent crude was $21.44, in the last few days it has climbed upto $30.98. it might be worth looking at the heating oil prices again
Brent crude has shot up in recent days and is now at $42.19 compared to £21.44 a few weeks ago. I've noticed the local petrol stations prices have jumped quite a bit too within the last week If you do use heating oil, now might be a good time to check the prices again ?
Any further saving will likely be in the couple of pence range, as opposed to the almost half price it is now (from where it has been) .... I'd buy now rather than try and save £10-20 and risk the market rebounding to where it was
Once the lockdowns start being removed properly, confidence within economies will increase as will the use of oil again which will see the inevitable rush to re-establish prices to as they were
