Heating Oil Now Under €500 for 1,000 Litres
Moville Heating Oil Prices
The oil price has fallen from over $140 a barrel to $37 a barrel now.
The price of heating oil here reached €870 per 1,000 litres.
However, the latest price is as low as €494 for 1,000 litres with Swilly Fuels and €265 for 500 litres.
CraicOn predicted about a month ago that heating oil prices would fall further from the €559 for 1,000 litres that it was then and that readers would get it cheaper if they held on.
Oil Ran Out
Unfortunately, my own heating oil ran out and I had to pay €65 more than I would now.
It is still best to shop around as some sellers are still selling 1,000 leaders for €525.
So, you could lose out to the tune of €31 by not shopping around.
If you do call up your normal seller tell them that Swilly are doing it for €494 for 1,000 litres and ask them if they could do it for that.
Time to Buy?
So, should people buy heating oil now?
Only if they need to.
There’s still a glut and it could fall further in the coming months.
Just buy it when you have run out or are close to running out.
All the fall in oil prices may not yet be fully reflected in the current heating oil prices, as the local sellers may still be selling heating oil at the prices they paid for it.