Dawn Shakespeare of the Federation of Petroleum Suppliers looks at the impact of falling oil prices

Posted on: Monday, 25 January 2016 by Jackie Langridge in category Road

With the price of petrol and diesel dropping at the pumps, oil distribution trade association Federation of Petroleum Suppliers (FPS) says the price of heating oil has also dropped and is at a ten year low for the 1.5 million homes across the UK that currently use heating oil, making it far cheaper than other forms of off grid energy like electricity and LPG and even less than mains gas.

According to the latest official figures by Sutherland Tables, an independent provider of comparative home heating costs for the most common fuels in the UK and Republic of Ireland, to heat a 3-bedroom home in Great Britain using an oil condensing boiler was £793 per annum compared to £1548 for an LPG condensing boiler and £1600 per annum if you use electricity to heat your home, whilst mains gas comes out at £1038 per year and with the price of oil dropping since these figures were released in October 2015, the annual cost of heating a home on oil will now be even less than these figures.

Furthermore, following the recent House of Commons debate on oil heating buying groups, the FPS welcomes the recognition the Government is placing on off grid energy and has written to MPs and Energy Minister Amber Rudd to open further discussions between the Government and the industry on the subject of oil heating and oil buying groups for the 1.5 million off grid, mainly rural, homes across the UK.

Combatting fuel poverty and cutting CO2 emissions is high on the Government agenda so the FPS is urging the Government to offer additional help to off grid energy customers, including offering incentives to replace an estimated 900,000 old oil boilers with condensing boilers which would save every customer at least 20% off their fuel bills and reduce CO2 emissions at the same time.

As fuel poverty is disproportionately high in the off grid sector, savings in the region of 20% would go a long way to helping address fuel poverty for those unable to afford the upgrade to more efficient condensing boilers.

The FPS represents over 80% of oil distribution companies in Great Britain who make 5.5 million deliveries of domestic heating oil each year and this year the industry will be gathering in Liverpool for the 36th annual FPS EXPO, the largest annual event for people working in the oil and fuel distribution industry. Companies set to exhibit include Scania, Wincanton, MAN Truck and Bus UK Ltd, Philips 66 UK, RTN, Kingspan Environmental, Hytek, Emco Wheaton, Pen Underwriting incorporating OAMPS, Williams Tankers, Valero Energy and Mabanaft Ltd, Suttons Group, TIP Trailer Services UK Ltd, Essar Oil UK Ltd and Tyretracks Ltd to name but a few.

Entry to the exhibition is free and the event normally attracts over 1200 visitors from around the globe, including from the USA, China and Europe but this year the FPS is expecting to exceed those numbers.

Visitors to FPS EXPO are able to see and experience first-hand the latest technology, products and services from new tankers and tyres through to the most innovative software yet to reach the market, as well as network with many of the leading industry professionals.

Since its launch in 1980 FPS EXPO has become the largest event dedicated to the oil distribution and fuel industry.

We hope to make FPS EXPO 2016 our biggest and best event of the past 35 years.

You can register to visit FPS EXPO 2016 for free, as well as book tickets for the after show party, on the show’s website www.fpsshow.co.uk. For more information on the show, you can contact Dawn Shakespeare on: tel: +44 (0)121 767 1321, fax: +44 (0)121 767 1315, email: expo@fpsonline.co.uk

 

Dawn Shakespeare is Marketing and Events Manager at the Federation of Petroleum Suppliers (FPS)

Dawn Shakespeare FPS Marketing and Events Manager

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