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
21 July 2026
Brent crude is trading just below $90 a barrel, a touch lower on the day but still well above the low $70s seen at the start of the month, before renewed hostilities between the US and Iran sent prices sharply higher. Shipping through the Strait of Hormuz remains the market's main focus, with traders holding a sizeable risk premium while traffic through the waterway stays reduced.
Our Fueltool price tracker has the average supplier price at just under 90 pence per litre on a 1,000 litre order, easing slightly from a peak of just over 92ppl at the weekend. That is still well above the lows of around 77ppl at the start of July, as suppliers continue to price in the higher wholesale cost of kerosene.
The near-term picture still hinges on events in the Gulf. OPEC+ is due to lift output targets by a further 188,000 barrels per day from August, and with Brent steadying just below $90 the sharp day-to-day rises of the past fortnight have paused for now.