Home heating oil prices?

Surf_Boy said:
Just Ordered 500 Litres from Glen Fuels in Gorey for €335 this morning. Sounded like they were run off thier feet in the office so looks like everybody is trying to get in now before the outcome of OPEC meeting in Vienna..
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Crude is down after the opec meeting
 
I,000 litres now gone up to €639 from €625 last Friday.

Does anyone know how long it takes for the current price of oil per barrel to be reflected in the price you pay for it, for your heating.

I only ask because the price per barrel seems to be dropping every day now for the past 2 weeks but yet the price goes up in the retail.

Very confusing
 
Caveat said:
But haven't OPEC agreed to limit availability? This would have an impact.
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Yea but even after their meeting last week, the price has still continued to fall. I think!

Does the price of a barrel of oil today affect the price we pay tomorow, or does it take longer
 
hoopman said:
Does the price of a barrel of oil today affect the price we pay tomorow, or does it take longer
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Think I read somewhere it could take 6 weeks for the price the consumer pays for oil to filter down when the price falls.

Obviously when oil goes up the consumer feels the increase the following morning.
 
LennyBriscoe said:
Think I read somewhere it could take 6 weeks for the price the consumer pays for oil to filter down when the price falls.

Obviously when oil goes up the consumer feels the increase the following morning.
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Monday, 27th October 2008 - 12:30CET
Oil falls below $62 on economic gloom

Reuters
Oil fell to a new 17-month low below $62 a barrel today, driven down by pessimism about the deteriorating global economic climate and its likely impact on demand for fuel.
U.S. light crude for December delivery was down $1.77 at $62.38 a barrel after touching a 17-month low of $61.30 a barrel.
London Brent crude was down $1.75 to $60.30.
Gloom about the world economy overshadowed OPEC's deal on Friday to chop output by 1.5 million barrels per day, which some traders have said will not be enough to arrest the price slide.

By my understanding of the above it looks like at least 4 - 5 weeks for sure.
So by that logic even if the price per barrel goes up from now the prices should still continue to fall untill december.

But then again pigs will fly and all that
 
am have to fill my tank soon....am i better to wait a week or two or is it best to fill now?????????? thanks
 
The problem with oil is the same problem with money - you have overpaid delboys playing poker with the stuff you need to go about your daily business. Thus no matter whether oil goes down or up it will always be joe public footing the full brunt of any increase but not enjoying the full decrease. It's not fair but thats the way it is.
 
got oil today for 60c/litre. guy filling it reckons its going to drop more in next couple of weeks. i was going to tell him to go and come back in two weeks so, but tank was empty
 
Gooner1 said:
got oil today for 60c/litre. guy filling it reckons its going to drop more in next couple of weeks. i was going to tell him to go and come back in two weeks so, but tank was empty
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Hi,

Actually just checked Emo online who are usually very competitive and not only are they charging 65 cent a litre kerosene but it has gone up in the last week from 62 c.

Where did you get that price.

Thanks.
 
For anyone in the Celbridge-North Kildare area just did a bit of price hunting this morning and was offered the following prices.

Celbridge oil-1000litres including vat 655euro

Tougher Oil-1000Litres incl vat 606 euro

Naas Oil-1000litres incl vat 620 euro but ask what was the best price we were offered and agreed to match Tougher and deliver first thing in the morning-saturday. Went with them.

Have no connections with any of the above named companies
 
Just ordered 650l for €390 with Corrib Oil in Loughrea. No affiliation. They are also going to deliver today - good job or we would be cold tomorrow would say!
 
320 for 500l off suttons in kilmalock,limerick rang 2 other places other prices were 325 and 335 so i went with the cheapest
 
Hi,

Has anyone had any dealings with http://www.boilerjuice.ie/ (BoilerJuice.ie)? The site claims to be ablw to lower heating oil costs through grouping buyers together to create buying groups and thus driving prices down through bulk buy.

It sounds good in theory, but has anyone used it in practice?
 
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