For the third quarter in succession the winners in the home energy market are the 1.5m homes using oil heating across the UK according to the trade association for the oil distribution industry, FPS (Federation of Petroleum Suppliers).
According to the latest figures released by the Sutherland Tables, independent provider of comparative home heating costs for the most common fuels in the UK and Republic of Ireland, the price of oil has continued to fall over the last quarter and the cost of home heating using oil is now cheaper than gas heating, regardless of the type of property you live in or whether you have a conventional or condensing boiler.
Home heating costs using oil have now dipped well below the 4 year average with costs now sitting at approximately 34 – 36% lower than the 4 year average, for both existing and newer build dwellings.
“Yet again this is fantastic news for homeowners who use oil to heat their homes and it’s clear that they are making the biggest savings. The cost of using oil to heat an average 3-bed house in the UK whether new build or older using an oil condensing or oil conventional boiler is now cheaper than gas heating,” says Mark Askew, Chief Executive of the FPS.
Mark Askew adds: “We’re all delighted by the latest Sutherland Tables report as the data really highlights the fact all those who use oil for home heating are getting the best possible deal.
“Furthermore, the FPS constantly works to ensure people can make the most of their heating systems to keep costs to the absolute minimum. We provide a range of tips and advice for consumers through our website www.oilsave.org.uk to help homeowners maximise on the potential savings offered by the recent big reduction in oil prices. We have also written to the new Energy & Climate Change Secretary Amber Rudd to ensure Oil Heating and tackling fuel poverty in off grid energy households is better recognised in policies under the new regime.”