Heating Oil Prices Climb
Recent indications have shown an increase in the price of heating oil in the UK, following falling prices throughout August. The increases began at the end of last week and as of this morning reached over 55p a litre.
The price of oil is up across the board globally, which could have implications for householders who use the fuel for their underfloor heating or other energy systems. One possible solution is the increased use of bio heating oil, which is made from a mixture of recycled cooking oil and has far fewer CO2 emissions than normal oil.
Increased usage would save money and help the environment. Industry body OFTEC, the Federation of Petroleum Suppliers (FPS) and ICOM Energy Association are all lobbying Climate Change Minister Greg Barker MP to give Britain’s heating oil households more incentives to switch to bio heating oil ? particularly by including it in the Renewable Heat Incentive (RHI), which subsidises the fuel.