Craic On

Donegal Heating Oil Prices

It’s not been much of a summer in terms of sunshine and even being dry.

However, it has been warm enough and that has meant Movillians haven’t had to spend much on heating oil.

Similarly, petrol prices have been tumbling too.

Heating oil and petrol prices tumbled to current levels a few months ago and then rose again.

However, they are now back at their lowest levels and the world oil price is now slightly below what it was in its previous fall.

Beware Heating Oil Suppliers

Those buying heating oil locally need to be very careful, though, or they could miss out.

It looks as if some heating oil suppliers are banking on customers not checking the price before they order their oil – and making bigger profits on what they sell them.

The cheapest heating oil prices that we could find around was €589 for 1,000 litres.

Those that we found selling it at that price are A and N Fuels and Swilly Fuels.

Charging Too Much

However, we found other heating oil suppliers supplying it at €595, €620, € 630 and even €645 for 1,000 litres.

Those buying at the worst price will be €56 worse off.

That would be a good night out with a meal for two at any of our local restaurants.

Will Heating Oil Prices Rise or Fall?

So, should Movillians call up and order their heating oil now when prices are low, even if they still have plenty of oil left?

Should they fill up their tanks with petrol?

Not according to the experts who predict that oil prices  will fall further.

It is now $48.71 on the world market.

Oil Glut

It seems that OPEC pumped more oil last month than for any month in the last three years so there looks to be a bit of a glut which this will make worse.

One pundit said that a “huge oversupply remains firmly in place in the oil market” and that prices could be squeezed even lower”.

So, if you have heating oil left, just sit tight and you could get an even better price in a few days’, weeks’ or months’ time.

Get Best Heating Oil Prices

If you do need heating oil, though, make sure you are not paying through the nose to those heating oil suppliers who have not reduced their prices along with the fall in world oil prices.

I’m sure the excuse would be “we’ve still got stocks of heating oil that we bought at higher prices”.

However, that never seems to apply when oil prices are rising.

So, be a smart buyer and shop around.

Don’t assume that your regular supplier is giving you the best deal or that all suppliers are supplying it at much the same price.

The oil price fall should, also, be good news for those buying petrol for their cars.

Boost to Moville’s Economy

The oil price fall is giving the local economy a boost too as money not spent on heating oil and petrol can be spent on other things with businesses in the town.

As we’ve said before, the economic Circulation of Money law states that every Euro spent at a business in the town will circulate an average of six times meaning that six business, on average, will get the advantage of it and it benefits all.