The Trade association for the Heating Oil Distribution industry, Federation of Petroleum Suppliers (FPS) is pleased to announce that heating oil is the cheapest form of energy for 12 months on the run. 

This is following the release of the most recent energy comparison report produced by Independent provider of comparative home heating costs, Sutherland Tables, which has confirmed that oil has been the cheapest fuel for home heating for the past year.

Mark Askew Chief Executive of the FPS comments: “The average annual heating costs for heating oil users have fallen every quarter for the last three years and since April 2015 the price of domestic heating oil has fallen by 36%.

The latest figures show that heating a typical three bedroom home on oil, using a condensing boiler is now just £690 per annum. Even with a conventional boiler, that’s nearly half the cost of the nearest alternative. If you use LPG the average cost is £1448 per annum, electricity is £1588 per annum and traditional gas heating £1007 per annum. This means that an oil condensing boiler is also substantially cheaper to run than any renewable heating option with Wood pellets costing £1388 per annum and air source heat pump radiators £1447 per annum.

“We have written to all rural MP’s urging them to spread the summer top tips message so that the 1.25 million off grid mainly rural homeowners can save more money on their energy costs and be prepared for winter and we are also urging Energy Minister Amber Rudd to consider more affordable measures to help off grid households cut energy costs and become greener in the process including the rolling out a boiler scrappage scheme, similar to the one launched in London earlier this year.”

For more information on managing your home heating using oil and to become more energy efficient, visit www.oilsave.org.uk