For the first time in five years the 12,000 rural homes in Bedfordshire that use oil for heating are spending less on their fuel bills than urban households connected to mains gas.
The price of heating an average three bedroom property with oil is now £119 less per year than mains gas, according to the latest figures from independent industry analysts.
The announcement has been welcomed by homeowners across Bedfordshire who are benefiting from a 30% fall in the price of heating oil over the last two years. Furthermore, the good news is set to continue with industry experts predicting the price of oil is set to stay low for the foreseeable future and may drop even further.
Oil is also much cheaper than the alternative fuels for rural properties, coming in at 47% (£919) less expensive than LPG and 37% (£590) less than electric storage heaters to heat the same average, three bedroom home.
Malcolm Farrow of OFTEC, the UK trade body for oil fired heating, said: “These latest figures provide positive news for rural householders in Bedfordshire that use oil to heat their homes. Homeowners will be able to make real savings on their fuel costs over the coming year and, if the price of oil stays low, we may even see some households switching from mains gas to oil.”
Source: Biggleswade Today