Heating homes with oil is much cheaper than using LPG or electricity in the UK, according to figures released by OFTEC.
The report, compiled by Sutherland Tables, states that it is 41 per cent cheaper to heat a home with oil rather than LPG and 28 per cent cheaper than using electricity.
The results are based on average running costs per annum for heating a three bedroom home in the UK, with oil costing around £727 compared to £1,223 for LPG (including the cost of tank rental) and £1,012 for electricity.
Wood pellets boast marginally lower running costs, according to the research.
However, OFTEC argues oil is much easier to store and highlights recent figures from Eurofuel that show that particulate emissions for this type of fuel, are five times higher than for oil.
OFTEC marketing manager, Barry Edge, said: “The new data proves that oil is still the most attractive and viable fuel option for the many homes across the UK that don’t have access to mains gas.”