Factors affecting fuel oil price
The basic factor for the heating oil price is determined by the price of a barrel of crude oil in the international market. This market price, in turn, depends on the law of supply and demand. Furthermore, the heating oil price also depends on external factors such as the evolution of the dollar exchange rate (crude oil is always traded in dollars). Finally, all kinds of taxes, contributions and excise duties also have a major impact.
Official price of heating oil protects consumers
In 1974, the government created a system of official maximum daily prices to protect consumers from overly sharp price fluctuations of petroleum products (including the gas oil you use to heat your home). To begin with, those daily prices include a fixed maximum margin for petroleum companies and suppliers. This means that MAES as a supplier of gas oil is not allowed to go above that margin, but of course we are free to go below it! In addition, the official maximum price includes contributions to the Social Heating Fund and contributions to guarantee our country’s security of supply. Finally, the price includes a 21% VAT (on the whol
The advantages of the fuel oil price system
The protective mechanism created by the government in the form of the official maximum prices, coupled with the free fuel oil market and the robust competition – as a customer, you choose which supplier you want to deal with for every order – mean that you never pay too much, and certainly not if you choose MAES. Moreover, you know where you stand at any time: the heating oil price is transparent, ‘all-in’ and clearly structured. You know it in advance and can therefore manage your heating budget optimally.
