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55 posts written by Andrew Higgins.

VAT Rate On Domestic and Commercial Heating Oil

2nd August 2019 by Andrew | write a comment

The VAT which you pay on heating oil is controlled by HMRC. Oil suppliers and brokers are required to be a Registered Dealer in Controlled Oils (RDCO). Registered Dealers in Controlled Oils (RDCO) The RDCO use a fit and proper test which ensures that companies which sell fuel are fit and proper to deal in controlled oils and will do so in a way that helps HMRC protect the tax system. This means th… Read more

Do Red Diesel Users Benefit from Low Global Oil Prices?

9th August 2016 by Andrew | write a comment

Alongside Brexit, another topic that has perpetually been making headlines for months, if not years, is the return of low oil prices after over a decade of historically unprecedented highs. The price of oil per barrel as measured by the Brent crude standard reached a high of over $120 in early 2012, and remained around a steady $110 per barrel until the middle of 2014, when the price swiftly dropp… Read more

European Commission Takes UK to Court over Marine Red Diesel

7th July 2016 by Andrew | write a comment

When thinking about the legal use of red diesel, or gasoil, as it’s also known, what comes to mind? Agricultural vehicles are probably the first category that occurs to most people, but a lesser-known instance is in private pleasure boats and yachts, provided that duty is paid on 60 per cent of the fuel purchased. In many EU states, marine use of gasoil is banned, and since 2014 the topic ha… Read more

The Main Uses of Red Diesel

30th June 2016 by Andrew | 1 comment

Sometimes, there is some confusion about red diesel fuel and regular automotive white diesel fuel. In terms of chemical make-up, there is no difference at all apart from the fact that red dye has been added in order to determine which diesel is being used. When purchasing, red diesel is also a lot cheaper than normal diesel and is intended to be used in vehicles in the agricultural and constructio… Read more

How will the UK Brexit vote affect UK heating oil prices?

27th June 2016 by Andrew | write a comment

On Thursday 23rd June 2016, the UK voted to leave the EU in an historic referendum. The result came as a shock to many, and the stock and currency markets were no different, having bet on the UK voting to remain as a member of the EU. In the week leading up to the referendum, heating oil prices were fairly flat, while sterling strengthened significantly vs the US$. If you are planning your fue… Read more

Red Diesel Prices Low Due to Oversupply

21st June 2016 by Andrew | write a comment

Following a pre-Budget rise of up to four pence per litre on widespread anticipation of an increase in duty, oversupply is currently keeping the price of red diesel fuel in a narrow range. However, with daily movements of up to one penny per litre, the market is currently described as being spiky. In the past two weeks, this has put typical deliveries of red diesel to farms at around 35-38 pence p… Read more