Latest industry figures show that heating oil prices are now 13% cheaper than mains gas to heat the average home.
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 £930 a year to heat an average three bedroom house. This compares to an annual heating bill of £1072 for the same home on mains gas, the second cheapest option.
Jeremy Hawksley, director general of OFTEC, said: “Oil prices have now fallen to their lowest point since autumn 2009 and are currently over £500 cheaper than when prices peaked in the early summer of 2013. This is great news for the industry and the UK’s 1.5 million oil using households.”
(Source: Fuel Oil News)