Rural households continue to spend less on heating than urban counterparts
Monday, October 17, 2016 By OFTEC
The price of heating an average three bedroom property with oil has reduced further over recent months and is now £142 per year cheaper than mains gas, according to the latest figures from independent industry analysts*.
The announcement has been welcomed by rural homeowners across the country who are benefiting from a UK average £500 fall in the price of heating oil over the last two years. The good news is set to continue with industry experts predicting the price of oil is set to stay low for the foreseeable future and could drop even further.
The figures also show that oil is significantly cheaper than other fuels often used in rural properties – 42.5% (£691) less expensive than LPG and 42% (£670) less than electric storage heaters to heat the same average, three bedroom home.
Malcolm Farrow of OFTEC, the UK trade body for oil fired heating, said: “These latest figures provide great news for rural householders that use oil to heat their homes. Homeowners looking to make real savings on their fuel costs over the coming years and people currently using LPG or electric storage heating should consider switching to oil to save money.”
The announcement comes as the weather warms up and heating systems are switched off, allowing homeowners to use the extra cash they are saving to consider upgrading old boilers to new high-efficiency models to save even more on their heating bills.
Advice on checking your heating system over summer is available at www.oftec.org.uk.
*Sutherland Comparative Domestic Heating Costs Tables, April 2015
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