Heating oil cheaper than ever before winter

heating oil cheaper than ever before winter

This is what the heizol award portals on the internet report. That’s eleven euros less than a year ago and still eight euros less than two years ago.

This means that an average tank filling costs less than 2,500 euros – around 330 euros less than in november of last year. "This is a nice change from the other energy price increases and the perceived increase in the cost of living," said heiko harlapp, managing director of the consumer portal easyoil.

Consumers can urgently use this relief on the price front. 2012 was the most expensive heizol year ever with an average price of more than 90 euro. This year, the price was mostly slightly below the previous year’s level, but the cold and long winter drove consumption up sharply. In the first nine months, sales were 13 percent higher than in the same period of the previous year, according to the arbeitsgemeinschaft energiebilanzen (working group on energy balances).

That’s enough to cause total mineral oil consumption in germany to rise for the first time in years. By the end of september by as much as 2.3 percent. "The economic environment is currently favorable," said the head of the heating business at shell in germany, jorg debus. The markets are well supplied, demand moderate.

Several factors are important for the price of heizol: the most important is the price of crude oil, which, at around $103 for a barrel (159 liters) of the north sea variety brent, is practically the same as it was a year ago. Consumers have been helped by the euro, which has appreciated significantly against the U.S. Dollar since july. However, the european central bank (ECB) interrupted this development a few days ago by lowering the interest rate.

The experts do not agree whether the prices will continue to fall or whether the consumer should rather strike quickly and place his order. The oil markets traditionally fluctuate strongly, and the cheap money of the central banks was soon able to fuel speculation in commodities again. "The timing of a hezol order does not seem compelling," states, for example, the portal of the company tecson, which does not sell hezol, but measurement technology.

Shell man debus expects demand to rise, but he does not urge people to buy: "whether customers should buy now or not also depends on their individual situation and stockpiling."

No cauelle of heizol customers has set in yet. In some regions of germany, for example in the erlangen area or in saarland, delivery times have become longer and can be up to one month. Experience from previous years shows that it is not a good idea to wait until the last drop in the tank. During a cold snap, many customers want to buy heating oil at once, the price jumps and the dealers can no longer deliver quickly.

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