The most expensive heating oil has ever been (at the time of writing) is summer 2008 when it topped £600 for 900 litres. By that winter it had almost halved in price.
So if prices are not necessarily “cheapest” in summer, is there any merit in buying in summer? There is no doubt that during these quieter periods, oil distributors will sell at reduced margins that could mean saving one or two pence a litre. This is not insignificant and every penny reduction would save £9 when buying 900 litres. So during summer you have a better chance of getting the cheapest price.
However it is the global markets (be it in summer or winter) that have the greatest influence on how much you pay. Currency fluctuations are also very important. Oil distributor margins vary nothing like what is sometimes insinuated. Heating oil reached £600 in summer when crude oil reached highs of $147 a barrel, not because hundreds of oil distributors colluded together to make a killing.
