Fantastic drop in domestic heating cost!

[MM]

Finally fell below 40p a litre last week. Cheapest since February. Gone up since. Good job I bought some!

MM

[Huge]

Of course. I bought a kilolitre, so it was bound to get cheaper.

:o(

[Man at B&Q]

Good for you.

[Dave Liquorice]

Only a kilolitre? I'll be looking for 2 kilolitres but not quite yet. Having said that I'm going to keep a close eye on the crude prices and if they start to climb back up (as OPEC want) may well buy an interim kilolitre.

[The Natural Philosopher]

Bear in mind that the pound is dropping nearly as fast as oil prices.

[Huge]

Well, it was effing expensive. And that lasts us most of a year.

I might gets toppers up, ditto.

[MM]

Today it's fallen even further, even though Opec has agreed to cut production.

MM

[MM]

One site I have been monitoring is:

's German, but look at the little arrows on the right. Today they're mostly pointing down or are neither up nor down. I have found this site a pretty fair indicator, even though the actual price per litre may be slightly different in Germany. Also check out

MM

[MM]

Yeah, at the rate it's falling it may soon be cheaper than I paid in

2006 (32p a litre). I celebrated yesterday by having a really long, hot bath! Bliss!

MM

[Tim S]

MM coughed up some electrons that declared:

You haven't had a bath since 2006?

I'll get me coat...

[MM]

Could be even better still. The Times reports today that oil could be heading for $50 a barrel by December, lowest since March 2007. Watch those trends! It's seat of the pants time! It's a nuisance that domestic heating oil fluctuates so wildly in price, literally from day to day, whereas filling stations (petrol, diesel) are much more constant.

MM

[John]

OPEC are already cutting production so oil/petrol/diesel etc will soon be going up again.

[Andy Burns]

That was their plan, but the market price went down on the news of their volume cut.

[The Natural Philosopher]

That's because they are over 50% tax. That never varies.

[The Natural Philosopher]

That's because worldwide consumption has fallen below output. And will drop further as the 400 year Depression and reversion to the Dark Ages sets in. ;-)

Realistically OPEC will cut as much as it needs to to stabilise between $75 and $100 a barrel. If a dollar is worth more than a empty promise to wipe your arse on, by then.