So, just under two months ago we thought we’d be really clever and only buy half a tank of heating oil instead of a full one. After all, we were in the middle of a cold snap, prices had spiked, the oil would last until March when things would be very different and we could fill up the tank then when it would be much cheaper. And indeed, how likely was it really that a series of nasty despots would be toppled in North Africa just because some brave people went and stood in a square and asked nicely? Or that a country that had been under the yoke of Mad Dog Ghaddafi for 40 years would choose the very moment when we were going to need to refill our oil tank to descend into what is shaping up to be a nasty civil war?
Hmm. Very likely indeed, it turns out…
The irony is that if we hadn’t had our wood burning stove and thus been using slightly less oil than normal at this time of year, we would have had to refill it a fortnight ago, when prices were at their lowest for a while.
Ah well. These things happen. And of course freedom takes priority over oil prices and I wish the Libyan people the very best in their quest to free themselves from their current bondage. But I would respectfully point out that the way things are going, we’re going to need the tank filled again quite soon so if they could possibly see their way to hurrying up about it, that would be wonderful.
Wasn’t the Scottish Government offering grants for ground source heat pumps and the likes to people living in rural areas, to wean them oil fired heating, a while back? Worth checking to see is there is anything you could wave under your landlords nose…
I’ve looked around and there doesn’t seem to be anything at the moment, and especially not for private tenants unless we borrow an old person to come and live with us. I’m thinking of setting up a rent-a-granny scheme whereby old ladies who would otherwise be sad and lonely take up a nomadic life roaming the country staying with people so they qualify for the grants. They get the company, the hosts get the heating sorted, AFAICS there’s no real downside here…
Would you like to borrow mine? She’d love a holiday. xx
I don’t know how long she’d have to stay to qualify for residency so it might be a bit extended. But if she’s reasonably hardy (what with the oil prices and all that)…
Hmmm. Failed at the first fence. Not of the hardy variety. She can feel a draught at 500 yards, or in the next room. Sorry about that.
Had to fill my oil tank last week. Dreading the bill.
Sheer sexism I call it! What about an old grandpa?
Are you offering?
My policy is to buy as soon as I can, things can only get more expensive.
John
Remember, the price of oil can spike as well as go up
John – you’re probably right
Dom – the only way is up…
Why does the oil price not come down when everyone is behaving themselves and being nice to one another?
probably because the Chinese are burning every barrel they can get their hands on … making our tat. Time to stock up on some more wood!
Oil is traded on exchanges. Traders (being evil, money grabbing toerags) buy oil futures now knowing full well that if supply contracts the price will go up and they’ll make a killing. If, God forbid, the supply of oil doesn’t contract they don’t just shrug their shoulders and make a loss. No, they hang onto their futures in the hope that the supply will contact later due to any one of a number of reasons and THEN make a killing. This means that the price doesn’t go down as much as you might expect. In addition Oil is seen as one of the safe havens when the stock exchange is in the toilet, which is has been for a while, so you’ve got more than the usual number of traders trying to buy it, reducing the supply more and increasing the price.
As with all things to do with investment banking: You, The Little Person, Cannot Win.
My last gas bill was not as high as I expected (for once) — only went from $12 to a little over $40. One imagines an advert — TO LET: Single-owner Grannie. Available by the month. Excellent dodderer. Can shiver piteously upon request. Knitting extra. No stairs.
Dom – thought as much. See also, private pensions, insurance policies, investments…
WOL – ouch. Although you really don’t want to know what we just paid for our winter’s oil