November has begun and with it its procession of rains. The first cool temperatures announce a long and cold winter. Last winter was harsh and long. Remember the negative temperatures that followed us until April and the return of good weather only in July. Many Belgians saw their heating oil consumption explode. Unfortunately, this harsh winter was coupled with a sharp increase in fuel prices, including the price of heating oil. Bad news for household budgets…
What does a liter of heating oil cost today?
On Wednesday, November 6, 2013, the price of a liter of heating oil is 0.83 €.
What is the recent trend?
- In recent years, the price of diesel has sharply increased with the scarcity of oil production.
A worrying observation…
- In 2005, the price of a liter of heating oil in Belgium was 0.52 €.
- In 2008, this price increased to 0.79 €, a rise of nearly 50%.
- In 2012, the cost of a liter of heating oil was around 0.90 €.
- In recent months, prices have evolved as follows: +99.4% in one month; +112.6% in 3 months; +104.7% in 6 months.
Why have fuel prices become so high?
The global market
We consume more and more fuel. Demand increases but supply decreases. This is mainly due to production limitations by oil-producing countries (OPEC).
The taxman
He is not to be pitied. The Belgian state also profits from each liter we consume. All excise duties, energy taxes, and VAT represent no less than 56% of the price of a liter of diesel. And for gasoline, it rises to 67%.
How to react to such an increase?
In reality, the consumer has little means of defense as they are subjected to market prices that they do not control. Moreover, it is the Belgian state that determines taxation. Nevertheless, some suppliers offer interesting discounts as soon as you order a large quantity of heating oil: 2,000 liters, for example.
In this regard, some consumers group together to place large orders together. This is a good idea.
European Popular Credit gives you a boost!
From this October 2013, we are launching our great heating oil action. Indeed, we offer you the possibility to finance the purchase of your heating oil order with a financing of the installment loan type – monthly payment for your heating oil. You will have the possibility to borrow at an attractive interest rate starting from 1,500 € and to repay your financing over a period of up to 24 months! Financing of 1,500 € represents an order of 1,666 liters of heating oil at the current rate.
Example of Financing: Installment loan of 1,500 € – APR of 9.95% – over 24 months – Monthly payment of 68.88 €, for a total cost after 24 months of 1,653.12 €. Your financing over 24 months therefore costs you 153.12 €!
From October 2013 to April 2014: our company offers you a 25 € fuel card for every heating oil credit.
Tip: don’t wait until the last minute to place an order because, as is well known, the price of a liter of heating oil increases during the winter as consumption increases. So you’ve been warned!
