According to the latest figures released by the Sutherland Tables*, an independent provider of comparative home heating costs for the most common fuels in the British Isles, oil is now by far the cheapest of all the major heating fuels, costing just £672 a year to heat an average three bedroom house. This compares to an annual heating bill of £907 for the same home on mains gas, the second cheapest option.
The latest figures show as the price of oil has continued to fall, the cost of home heating using oil is cheaper than gas heating, regardless of the type of property lived in or whether using a conventional or condensing boiler.
This is fantastic news for homeowners who use oil to heat their homes as they are making the biggest savings.
*Sutherland Tables Comparative Heating Costs, UK and Ireland, January 2016.