The latest quarterly data from the Sutherland Tables has shown that home heating oil has enjoyed the biggest price drop in the last year and has also dropped below the four-year average.
“Compared to how much it cost the 1.5 million off-grid energy users to heat their homes using oil last year, it’s now a lot cheaper – which is obviously great news for consumers. While the UK average prices for gas, electricity and oil have come down since the last quarter, heating oil users have gained the most, regardless of their location and types of boilers being used. Wood pellets prices have risen in every area, while prices for solid fuels and LPG have on the whole remained the same,” says Federation of Petroleum Suppliers.
When looking at the last 12 months the gap between the cost of home heating oil and LPG has grown larger with the decreasing oil prices. Furthermore, all other domestic fuel types have risen in costs over the past 12 months with wood pellets increasing the most. LPG, used by some 170,000 off-grid households, still remains the most expensive fuel, costing a three bedroom home with a condensing boiler £1,923 per annum compared to electricity at £1587, home heating oil at £1228 and gas at £1119.