‘Ten year low’ oil price sees a rise in tank servicing

Fri, January 22, 2016 - 10:35:00

Over the past few months heating oil engineers have seen a huge increase in business, which they are putting down to recent cold weather and the price of oil being at a ‘ten year low’.

According to the oil distribution trade association ‘FPS’ (Federation of Petroleum Suppliers), the price of heating oil has reached a ten year low – and with recent cold weather this has seen a rise in heating oil engineers being called out.

Heating oil is more popular than most would think, with 1.5m homes across the UK currently using it. It’s commonly used in areas where there is no connection to the national gas grid, with other types of off grid energy being electricity and LPG, but heating oil currently comes on top for the cheapest available option.

Chief Executive of the FPS Mark Askew said: “It is great news for off grid homeowners and just as we are entering a cold spell we are urging people to stock up now.”

Sutherland Tables are an independent provider of comparison prices for home heating in the UK and Republic of Ireland. Their latest official figures for heating a 3-bedroom home (per annum) in Great Britain are as follows:

  • Using an oil condensing boiler – £793
  • Using an LPG condensing boiler – £1548
  • Using electricity – £1600
  • Using mains gas – £1038

Since these figures were released, the price of oil has fallen even more, therefore increasing the price gap – making heating oil the cheapest method of home heating by far.

With the price of oil so low, domestic heating oil users will have saved some pennies in recent months, leaving them able to afford tank servicing that might usually mean them forking out in order to have it done. So it’s no surprise that heating oil engineers have seen a busy few months.

With more and more business, we suspect that engineers will also need to stock up on supplies, and here at Centre Tank Services we can help. Trading for over 25 years, we continue to supply a range of heating oil products including oil tank gauges, fire valves, heating oil lines and oil meters all available to buy on our website www.centretank.com or by calling our sales team on 0121 351 4445.