Heating Oil Prices February 2026 – Market Easing as Winter Peaks

February 2026 Heating Oil Price Summary

As we move through the latter half of winter, heating oil prices across the UK have started to ease slightly, falling by approximately 2–3% compared to January's peak. Based on our aggregated supplier data, the average price per litre currently sits at around 58–59p, down from roughly 60p at the start of the year.

This is encouraging news for homeowners who held off on ordering during January's seasonal high. While prices haven't dropped dramatically, the trajectory suggests further softening as we move towards spring.

Key Findings from Our Data

Our comparison platform has tracked the following trends through February:

Metric	Value
Average price per litre	~58–59p
Lowest price recorded	~50p/L
Highest price recorded	~72p/L
Most popular order size	500 litres
Price variation between suppliers	Up to 18p/L

The supplier-to-supplier price gap remains significant at up to 18p per litre for identical postcodes and quantities. On a 1,000-litre order, that's a potential saving of £180 simply by comparing before you buy.

Regional Price Roundup

Regional patterns continue to influence pricing across the UK:

Best Value Areas:

East Midlands – averaging around 55–57p/L
East Anglia – averaging 56–58p/L
Northern Ireland – averaging 56–57p/L (traditionally competitive due to high oil dependence)

Higher Price Areas:

Scottish Highlands and Islands – averaging 68–72p/L
Remote Welsh valleys – typically 3–5p/L above regional averages
Cornwall and Devon – slightly elevated due to delivery logistics

Why Prices Are Easing

Several factors are contributing to the February softening:

1. Post-Peak Demand January typically represents peak heating oil consumption. As daylight hours extend and temperatures begin to moderate, order volumes naturally decline, reducing pressure on supplier pricing.

2. Improved Delivery Capacity With fewer urgent orders in the system, suppliers can optimise delivery routes more efficiently. This operational improvement often translates to marginally better pricing for customers.

3. Stable Global Oil Markets Brent crude has remained relatively stable through early February, without the volatility that characterised parts of 2025. This stability filters through to wholesale kerosene pricing.

4. Supplier Competition As demand eases, suppliers become more competitive to win orders. This is the sweet spot for consumers—high enough demand that suppliers maintain regular deliveries, but low enough that pricing becomes competitive.

Volume and Timing Analysis

Our data continues to show that order size and timing affect pricing:

Order Size	Average Price	vs. 500L
500 litres	~59p/L	baseline
700 litres	~58p/L	-1p/L
900 litres	~57p/L	-2p/L
1,000 litres	~57p/L	-2p/L
1,200+ litres	~56p/L	-3p/L

Best ordering window: Mid-week orders (Tuesday–Thursday) consistently show slightly better pricing. Suppliers tend to have more flexible scheduling and occasionally pass on route efficiency savings.

Should You Order Now or Wait?

This is the question every heating oil customer faces in February. Here's our analysis:

Order now if:

Your tank is below 25% capacity
You've found a price below 56p/L in your area
You want certainty before any potential spring budget announcements
Your supplier offers price-lock or fixed-price options

Consider waiting if:

Your tank has enough oil to last until March
Prices in your area are still above 60p/L
The weather forecast suggests a mild March

Historically, March and April offer the best prices of the year as the heating season winds down—but this carries risk if an unexpected cold snap depletes your reserves.

Looking Ahead: March 2026 Outlook

We expect further price softening through March, with several positive signals:

Seasonal demand decline – March typically sees 30–40% less ordering volume than January
Mild weather forecasts – Early predictions suggest a relatively mild spring
Stable crude markets – No major disruptions expected

However, be aware of potential upside risks:

Late-season cold snaps can cause temporary price spikes
Government budget announcements in spring could affect fuel duty
Any escalation in global geopolitical tensions could push crude higher

How to Get the Best Price This Month

1. Compare, Compare, Compare With 18p/L variation between suppliers, using our price comparison tool before every order is essential. Even loyal customers should check the market regularly.

2. Join a Buying Group If several neighbours use heating oil, coordinating orders can unlock group discounts. Some suppliers offer 1–2p/L reduction for multi-drop deliveries on the same route.

3. Top Up Rather Than Fill Up If you're confident prices will continue falling, consider a top-up order of 500 litres now to tide you over, then a larger order in March when prices may be lower.

4. Monitor Our Price Tracker Check our heating oil prices today page regularly for the latest pricing trends and regional data.

Summary

February 2026 has brought welcome relief for heating oil customers, with prices easing 2–3% from January's seasonal peak. Average prices of 58–59p per litre, combined with significant supplier-to-supplier variation of up to 18p/L, mean there are genuine savings available for those who compare.

As we approach the end of the heating season, the window for competitive pricing is widening. Whether you order now or wait until March depends on your tank levels and risk appetite—but either way, always compare prices before ordering.

Data source: Aggregated anonymised pricing data from OilCompare's supplier network, February 2026.