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Heating oil prices fall as gas and electricity increases

25th October 2013 All News and Offers

Gas and electricity prices compared against home heating oil pricesScottish Power today announced price rises of up to 10% in a blow to 2.2 million households.

The company will increase gas prices by an average 8.5% and electricity by 9% – becoming the fourth of the Big Six energy companies to increase bills.

SSE, British Gas and npower have already announced inflation-busting price rises of up to 11% with E.ON and EDF Energy expected to follow suit.

The price hike, which amounts to a £113 increase in the average annual dual-fuel bill, will kick in from December 6.

Spanish owners Iberdrola warned yesterday it had “no option” but to increase tariffs in the UK after claiming it had been hit by the Government’s energy efficiency and environmental measures.

Figures this week showed that energy bills are rising three times faster than in the decade before. Gas and electricity bills have ­rocketed by an average £90 a year.

The price of home heating oil has dropped over the last year acccording to OilFiredUp.com’s Price Totem, which shows average UK heating oil prices have dropped  from c.59.7 pence per litre last September to c.58.65 pence per litre for w/e 20 September 2013. And heating oil prices have declined by almost 8 pence per litre, from a peak of 66ppl during this year’s uncharacteristically cold spring.

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