Will heating oil become more expensive?

widthHe currently Heating oil Come on, you must pay 42.5% more than a year ago. This number stands out in the monthly price report of the Federal Statistical Office. Since the delivery is usually at least 1000 liters, but most are 3000 or even 10,000 liters, this is not a small amount of money. In the 10,000 liter example, 7100 Euros should now be paid instead of 5000 Euros. The 2100 Euro lost in the account is painful.

But the question that some heating oil addicts almost worry about is whether the price increase will end. According to data from the EID Energy Information Service, in November, 15 cities in Germany had to pay an average of 43 Euros for every 100 liters of heating oil, and it has now exceeded 75 Euros. There is good news and bad news. The first is the disadvantage: it may become more expensive. The price per 100 liters has been more than 90 euros.

Well now: it won’t become infinitely expensive. It is worth looking at the price history. In the past 15 years, heating oil prices have fluctuated sharply, ranging from 40 to 100 euros per 100 liters. The lows are mostly short-lived. There is an orgasm. There are many stages in between, and prices are in the Eurozone in the 1950s, 1960s, and 1970s. The average is 69.50 Euros.

Behind this is the relatively simple operation of the oil market. It is still affected by the OPEC cartel, which is interested in reasonable prices in oil countries. Too high prices will lead to excessive risk of finding oil substitutes, thereby depriving these countries of their commercial base. Too low prices are not enough to meet the national budgets of oil countries. Therefore, according to the price, they restrict or expand the supply of oil. They had just fought fiercely for the postponement and made a decision on Sunday. However, implementation will not happen overnight. However, if you have a few months of patience, you will get lower oil prices again.