The price has almost doubled over the past year, following the outbreak of conflict between the US and Iran.
It has left people wondering whether to buy now for the winter, or hold off in the hope that prices will fall – with the risk that they could rise again.
John Craggs, 73, from Wigtoft, near Boston, Lincolnshire, needs to fill his tank ahead of winter.
"Over the next few weeks I'll be monitoring the price to see if it goes down a little bit and then order the oil," he says.
But whatever they decide, he and his wife Libby, 80, are planning to limit their heating this winter because of the cost.
"We've both had health problems over the last few years and we should be keeping warm but its just too expensive," John Craggs adds.
"We will only have the heating on up to about 17 degrees in three of the rooms in the house, between about 3pm and 8pm, just to keep the cost down to be able to afford it. "
Unlike gas and electricity customers, they are not covered by the energy price cap, leaving them more exposed to sudden increases. They also have to pay a lump sum in advance for their fuel, with domestic tanks typically holding between 1,000 and 2,000 litres.
On Wednesday, the average price was 97.05p per litre, according to the comparison website , external, which measures the cost for purchases of 1,000 litres.
That figure is up by 85% since 9 September 2025, when it stood at 52.8p, and while it has dropped significantly from a high of 134p in March, prices have been climbing again in recent weeks after .
It means a household wanting to fill a 1,000-litre tank could be facing a bill of more than £970.
In March, the government , external for low-income families who use heating oil after prices surged due to the conflict in the Middle East.
The funding is distributed by local authorities, which set their own criteria for eligibility.
John Craggs says he inquired about help, but found he did not qualify.
