Great news, according to Fuel Oil News, OIL IS NOW THE CHEAPEST OF ALL THE MAJOR HEATING FUELS. Trailing behind in second place is mains gas. Based on an average 3 bedroom home, if you use kerosene heating oil to fuel you boiler or cooker you could make savings of £119 per year.
The price of Kerosene has fallen by nearly 30% over the past two years.
Oil remains considerably cheaper than other main heating methods, being 47% cheaper than LPG and 37% cheaper than electricity. Kerosene is definitely the cheapest way to heat your home.
Wholesale price movements compiled by Fuel Oil News show the price of kerosene dropped as low as 39 pence per litre, and rose to 41 pence per litre throughout the month of November 2014. Even better news is Kerosene prices have risen less over a 5 year period compared to other heating types.
According to Sutherland Tables, oil prices remained more stable than other forms of heating. Oil remains the competitive choice and means that the winners are the people who choose oil to heat their home.
Source: Fuel Oil News, Sutherland Tables