November 28, 2023

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Heating Oil: Premiere – Surprise with price at last year’s levels

Heating Oil: Premiere – Surprise with price at last year’s levels

Tomorrow, Friday, October 13, heating oil will make its surprise debut.

Price forecasts were reversed within 20 days.

The latest estimates by oil market executives want the price that major companies will sell from tomorrow to be at the level of 1.35 euros per liter.

Higher, below the same levels as last year. It should be noted that prices started in October 2022 with support from the state and refineries.

Mild weather weakens oil orders, as many families rush to buy when temperatures drop

So, in net prices, heating oil will be cheaper than last year as well.

the demand

Of course, demand in the first days is expected to be weak.

Mild weather does not favor oil orders as many households rush to buy when temperatures drop.

According to market traders, it is not unlikely that some people will rush to close oil quantities to ensure prices.

Heating allowance

Supporting families during the winter will be through granting a heating allowance. The amounts remain the same as last season, but the income criteria have been expanded for families with children.

This means that more families with protected children will receive the benefit this year. However, for the first time an end is being put in place for the turnover of taxpayers engaged in commercial activity, while the double allowance received last year by those who turned their backs on natural gas is being abolished.

Especially the new winter season:

  • More than a million families will receive a heating allowance ranging between 100-800 euros, depending on the region and family composition, while in very cold areas the allowance reaches 1,000 euros.
  • The income limit remains at 16,000 euros for single people and 24,000 euros for married couples, but increases for families with children from 3,000 euros per child to 5,000 euros per child. This means that the income limit for a family with one child ranges from €27,000 to €29,000, for a family with two children, the income limit increases from €30,000 to €34,000, and for a family with three children, the income criterion increases from €33,000. Euros to 39,000 euros.
  • For the first time, a turnover limit of up to €80,000 per year has been set for natural persons carrying on a business activity. This means that freelancers and freelancers who declared a gross income of more than €80,000 to the tax office this year are automatically excluded from the heating allowance.
  • Heating allowance will be given to natural persons, who consume heating oil, lighting oil (blue kerosene), natural gas, LPG, firewood, biomass (pellets) or thermal energy through district heating, and meet specified income and property criteria. .
  • The allowance will be granted to natural persons, for the real estate they use as their main residence at the time of submitting the application, whether it is rented, freely granted, or owner-occupied. Especially for heating subsidy grants to consumers of firewood and biomass (pellets), an additional condition is made that the property is located in a settlement with a population of 10,000 or less and that the corresponding subsidy factor is equal to or greater than 0.8.
  • The basis for calculating the heating allowance has been set at 350 euros, for all beneficiaries, which will be multiplied by the support factor, which is called the “daily degree factor” and ranges from 0.12 to 1.62 depending on the prevailing cold in each region of the country, in order to determine the amount of the allowance that each party concerned is entitled to. . In addition, the amount of the allowance, which is formed after multiplying the calculation base by the support factor, for each dependent child of the beneficiary will be increased by 20%. For beneficiaries living in areas where climate conditions are extremely cold in winter and the support factor is equal to or greater than 1, support amounts will be increased by 25% with the maximum amount reaching €1,000 (instead of €800).
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source: after that