Rising global oil prices may affect local heating costs

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The impact of the oil disaster in the Gulf of Mexico could be felt most heavily by the almost 3.5 million homeowners in the UK who use heating oil to power their boilers, reports Geoff Boorman Fuels, a large supplier of heating oil to homes in the UK.

Fluctuations in the price of Brent crude oil directly influence the price of petrol.

The recent oil spill in the Gulf has highlighted a growing concern over the cost and availability of oil and its related products across the global market. A spokesman from Geoff Boorman Fuels stated that “most homeowners do not have large enough storage tanks to store the full amount needed to meet winter demands. Because homeowners may have to refill their tanks as often as four or five times during the heating season, rising or spiking prices are a concern.”

Fluctuations in the price of Brent crude oil directly influence the price of petrol. To offset the effects of these fluctuations, especially in relation to transportation costs, many retailers and service providers raise their own prices. A trickle down effect is therefore created, with homeowners facing an increase in overall household expenditure, including the cost of heating.

A boiler is one of the more energy intensive household appliances. Ensuring that it operates at an optimum level can help reduce any energy wastage and minimise household heating bills, even in the face of rising oil prices. Owing to continual usage, especially in winter, a boiler requires regular servicing and maintenance to allow it to function both safely and efficiently. Scheduling an annual boiler service with a certified boiler servicing and repair specialist will help minimise boiler downtime and assist in optimising boiler performance throughout the year.

To find out more about how optimising boiler efficiency can help lower heating costs, or to schedule a boiler service, contact Baxi’s expert service division, heateam, today.

This article was written on behalf of Baxi. Please note that Baxi does not control and cannot guarantee the relevance, timeliness, or accuracy of the above content.

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