Energy Price Forecast: Heating Oil Prices: Buy Now? Expert makes gloomy prognosis

The war in Ukraine and the associated energy crisis shaped the year 2022. That too fuel oil was and is currently even more expensive than in previous years. But compared to 2022, heating oil prices have been on a downward trend since the beginning of January. Record prices of over two euros like in March 2022 are a thing of the past, at least for the time being. A welcome development for consumers. On January 25th, the trend of falling heating oil prices can also be seen. A liter of heating oil costs around 1.17 euros on average across Germany.

Heating oil prices: buy heating oil now or wait? These online tools can help

Should consumers strike now and fill their heating oil tank or even lower Prices wait? A difficult question to answer – especially since heating oil prices change from day to day and often even from minute to minute. The problem with this: The heating oil order cannot simply be revoked. As a consumer, you are bound to the order – even in the case of purchase contracts concluded online. A complete cancellation of the heating oil order is only possible in exceptional cases – we explain this in more detail in the article linked here.

The right time to order is all the more important. Comparison portals and empirical values ​​can be helpful when ordering heating oil. That Online portal “esyoil” For example, heating oil customers have two tools at their disposal: the Schwarm-O-Meter and the low-price system. The former provides information about the current willingness to buy of “esyoil” customers. And the low-price system gives a concrete purchase recommendation and is based on a special formula. From the past values, it is calculated for the present whether the current heating oil prices are favorable or unfavorable.

Heating oil prices in 2023: Market analysts give heating oil customers this recommendation

The two tools are also used by the market analysts who estimate the daily development of heating oil prices in Germany for “esyoil”. One of them is Klaus Bergmann. In his article of January 24, 2023, the expert assumes that there will be a rising trend heating oil prices the end. He also attributes this gloomy foreboding to the increased willingness to buy. If demand increases, this can become a problem. Because an increased willingness to buy is usually also an indicator of rising heating oil prices – at least that is what the lessons of the recent past have shown.

Bergmann’s recommendation to everyone who is still undecided heating oil customers: “Because heating oil will probably become more expensive in the coming weeks, it is advisable to buy it when the tank is sufficiently empty.” A recommendation that market analyst Claudia Lohse also shares – she explains: “If you have to fill your tank promptly, you shouldn’t wait too long.” Consumers can use an e-dipstick to find out whether this is the case or not. The small device provides precise information about the current fill level in the heating oil tank.

Reduce heating oil consumption: the state pays subsidies and grants for these heaters

With this information, heating oil customers can calculate better and take advantage of good purchase times. Irrespective of this, such a measuring device can also provide information about heating oil consumption. Investing in insulation or a new heating system can be worthwhile, especially in old buildings – primarily if the consumption of heating oil is comparatively high. There is a “heating exchange bonus” for exchanging an old oil heating system – this can be used as a basic subsidy for a new one heating – such as a heat pump – can be taken into account.

In 2023, several heating systems will be supported by the state with a subsidy. In addition to the heat pump, the heating systems that are eligible for funding also include pellet heating. In contrast to the heat pump, certain conditions must be observed for the promotion of a pellet heating system. You can find more information about the state requirements in the article just linked. It is also possible to convert the existing oil heating system into a hybrid heating system. In a video on YouTube, an expert reported on his experiences.

Use oil heating with a heat pump: save over 1,800 euros – YouTuber gives tips

Thanks to the combination of heat pump and oil heating, the expert saved more than 1,800 euros – he calculates them in his video savings right before. Particularly noteworthy: The comparatively poor structural conditions – nevertheless, the YouTuber managed to reduce his consumption of heating oil by more than 50 percent. Despite subsidies, heat pumps are expensive to purchase. Replacing individual parts of an existing oil heating system is less expensive here – this can also save a liter or two of heating oil.

Last but not least, there are a few well-known savings tips. Some of these tricks, such as ordering from neighbors, have become less profitable since the beginning of the energy and price crisis – others are still worth their weight in gold. The comparison of heating oil prices via online tools is one of these tips. Many online portals such as “esyoil” or “HeizOel24” also offer functions such as a price alarm. This informs users about falling heating oil prices. Despite everything, there is always a bit of luck involved – a good instinct is also an advantage.

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