HOME > Understanding Heating Oil Prices
 

We wish we had better answers. The energy market is so volatile right now that heating oil prices have gone up and down 10 cents a gallon or more in as little as three days.

  • If real disruptions do occur in the Middle East, crude oil prices could rise even higher. If current fears prove unfounded, or if supply increases, crude prices could plummet, which would eventually cause heating oil prices to drop as well. And of course, the weather will play a role during the winter because it affects demand.
     
  • People sometimes forget that over the last seven years, wholesale heating oil prices have twice dropped as much as 17 cents per gallon in the winter. And in real dollar terms, the price of heating oil is half of what it was in the ’80s.

Make sure your system is operating at peak efficiency by having our professional technicians perform a comprehensive 19 point tune-up.
   
Consider upgrading your burner, furnace or boiler to a new high efficiency model. You’ll save money this winter and for years to come.
   
Ask us to install a programmable thermostat to reduce your fuel consumption.
   
Check your home for drafts which rob it of heat.
   
Remember the value of quality service. When temperatures are frigid, service response and fuel supply matter much more than a temporary discount on the cost of oil.
   
Don’t be fooled by low price incentives. Most full service oil dealers operate with similar profit and cost structures. Once new customer incentives end, you’re back to regular rates. And with oil prices and supplies this volatile, it’s a particularly risky time to become a brand new customer.
 
“Consumers who switch from oil to gas continue to use the same amount of energy to heat their homes and water. The cost of switching is likely to be a complete loss. If you take steps to use less fuel...you will start saving money immediately and you will continue saving as long as you live in the house.” — Ellen Berman, President, Consumer Energy Council of America

 

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