As featured in
The Guardian
The Guardian
The Guardian
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07304 285 482Supplier heating oil price per litre (1,000L)
Source: Fueltool supplier prices
29 May 2026
Brent crude has dropped sharply to around $91 a barrel - its lowest level in six weeks and on track for a 17% decline in May, the steepest monthly fall since 2020. The big driver is a preliminary US-Iran ceasefire agreement that could reopen the Strait of Hormuz, a critical route for roughly a fifth of global oil and LNG flows. President Trump has not yet approved the proposed terms, so the situation remains fluid. UK natural gas has eased to around 112 pence per therm, down from the 126p highs seen earlier this month.
UK kerosene has fallen to around 90ppl including VAT - a significant drop from the 100ppl level just ten days ago and well below April’s 129ppl peak. The stronger pound (currently around $1.34) and the prospect of resumed Middle Eastern oil flows are both helping to push prices lower. Red diesel has also eased from its April highs. The gap between the cheapest and most expensive local suppliers can still be more than 10ppl, so comparing quotes remains essential.
With prices falling fast, now is a great time to compare suppliers on Fueltool and grab the best deal in your area.