During the last financial year CCB Oil Club Members saved over £15,500 on their heating oil! Buying a massive 325,000 litres of oil and saving the average member in excess of £125 per year!!
CCB launched the club three years ago. Over that time we have managed to save our members not only money on their heating bills but also provided them with valuable advice as to when the best time to fill up their tanks might be.
When we launched the club in March 2012 prices were often over £0.60 per litre and even after negotiation regularly hitting the high 50 pences. This was cripplingly expensive for some that were reliant on heating their homes with oil. Recent months have thankfully seen prices of a barrel of crude oil falling but even now we are still regularly managing to save 4-5 pence a litre for our members compared to average prices.
At the beginning of 2014 CCB signed an agreement with Oil Fuel Poverty Solutions (OFPS) to extend their remit in support of the club and provide the administration as well as the negotiation with oil suppliers. Here Marion Lathar, Negotiator at OFPS gives her take and what is happening with recent oil prices.
“I think it is fair to say that the price of oil has not changed so dramatically since the oil embargo of 1973 (when the prices quadrupled). During the past year we have seen the price of crude oil drop from $115 per barrel to a low of $46 in January 2015. It is now bouncing around the $65 mark. This has had a major effect on the prices that members of the CCB Oil Club have had to pay. Prices at the start of the 14/15 financial year have dropped from 52ppl down to 37ppl by the end of the 12 months.
Although it is now easier to get low prices for your heating oil the CCB Oil Club continues to save you substantial amounts of money. We have continued to seek out new suppliers and to negotiate with a wide number to ensure that you continue to get the best possible levels of price and service.
What will happen to the price of heating oil in the near future? Obviously, I don’t have a crystal ball but the general belief in the market is that the prices will remain reasonably static for the next few months but are likely to start rising again towards the end of the year. Most experts think that the price will, however, remain well below the high levels of last summer – good news for those of us who have no choice but to use oil in our houses. It almost doesn’t matter what the price is though – if you need oil you have no choice but to buy it. This is where the CCB Oil Club can continue to help you. No matter what the general price trend we will continue to use the power of community buying to negotiate the best possible price.”
The more people in any locality that buy through the Club the easier it is to negotiate a great price. With that in mind, please do mention the club to your friends and neighbours. Information is available from info@ofps.co.uk or 01993 225011 or you can sign up online: https://ccberks.wufoo.com/forms/ccb-oil-club-membership-form/
Annual membership fees are £24 for individuals, £36 for community buildings and £120 for businesses, all including VAT at 5%. Based on the average saving achieved over the last year, an individual placing a single order of the minimum quantity of 500 litres will save money through the club.
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