Heating oil is a liquid product derived from petroleum distillation as a by-product of crude oil and is the most common fuel for home heating in Southeast Europe, basically due to the late development of the natural gas network in this region. Heating oil is very similar to diesel oil but there is variation in chemical composition. In many countries, including Greece, taxes on heating oil are considerably lower than on diesel fuel and, to prevent any tax fraud, heating oil is marked with fuel dyes and trace chemicals. Heating oil prices are highly correlated to crude oil prices, as a result of which factors influencing the crude oil international prices have a significant impact on heating oil prices as well.
The demand of heating oil is seasonal in nature, which sees an upward trend during winters. In Greece the heating oil trading period is from 15 October till 30 of April.
To receive a daily update on heating oil prices and availability please contact us to register your company with our vendors or clients list.