Heating oil prices rise: What does that mean for your winter heating?

On December 30, 2024, heating oil prices in Germany are particularly relevant, since they are considered an important resource, especially in the winter months. The current heating oil price in Rhineland-Palatinate is 95.82 euros for 100 liters. In the Bernkastel-Wittlich district, the price is 98.68 euros for 100 liters above the average of Rhineland-Palatinate.

In Bernkastel-Wittlich, the price development for larger acceptance quantities has shown:
-500 liters: 120.71 euros
-1000 liters: 107.28 euros
-1500 liters: 103.92 euros
-2000 liters: 101.14 euros
-2500 liters: 99.37 euros
-3000 liters: 98.68 euros
- 5000 liters: 96.76 euros.

past developments in heating oil prices

Last month, the average prices in Bernkastel-Wittlich for 100 liters at 3000 liters moved as follows:
-29.12.2024: 96.26 euros
-28.12.2024: 96.26 euros
-27.12.2024: 96.26 euros
-26.12.2024: 97.49 euros
- 25.12.2024: 97.49 euros
- 24.12.2024: 97.49 euros
- 23.12.2024: 97.48 euros
- 22.12.2024: 96.49 euros
- 21.12.2024: 96.49 euros
- 20.2024: 96.49 euros.

In addition, the prices remained very stable during the month, with a maximum price of 97.49 euros and a low price of 93.26 euros. The delivery period for heating oil in Bernkastel-Wittlich is currently 38 working days. The purchase activity in relation to heating oil in the district is very high.

A total of 30.4% of the residential buildings in Germany (5.8 million) use heating oil, while in Rhineland-Palatinate 26.9% of the residential buildings (0.3 million) rely on heating oil. The building energy network (AGE) 2024 stipulates that there is no obligation to exchange heating systems, but there is an obligation to advise against the installation of fossil heating systems. There is an obligation to replace for oil heaters installed before January 1, 1991.

In addition, grants are available for the exchange of outdated heating systems, and there are various types of heating oil such as standard oil, low-sulfur heating oils, organic and premium variants. Tips for buying heating oil include ordering in time, carrying out collective orders and observing the market all year round and modernizing the heating systems.

While heating oil prices in Germany remain at a stable level, oil prices in Friday trade show increasing listings, as Tecon reported. The current oil nodes on Monday morning are $ 74.1 $/BBl, WTI Crude Oil at $ 70.5/bBl and the Opec basket at just under $ 75/bBl. These price developments suggest that the heating oil prices could be influenced by the market conditions.