Heating oil is an incredibly convenient and efficient way to keep your home or commercial property nice and warm during the long, cold winter months. However, just like most other sources of energy, the price of heating oil can fluctuate drastically depending on a variety of factors.
If you use heating oil to heat your home or business, understanding everything that can affect the price of heating oil can help you better manage your finances and save you tons of money in the long run. So, what factors influence heating oil prices in the US, and what can you do to keep your heating oil bill as low as possible?
Seasonal Demand
One of the biggest and most influential factors that affects home heating oil prices is the time of year. Basically, there is much more demand for heating oil in the winter months because that is when home and business owners need to use it to keep their properties warm and comfortable. This seasonal demand may cause prices to rise drastically as demand stays steady and supply continues to decrease.
On the other hand, during the warmer months of the year when the only heating oil used is to heat hot water, demand drops significantly, and prices tend to drop significantly. For example, prices peaked at over $6.00 per gallon in October of last year as consumers were stocking up for the winter and then dropped significantly in May as it started to warm up again.
The difference in prices throughout the year can be huge, so if you want to save money, it’s best to fill up your tank during the spring and summer when prices are at their lowest. In addition, heating oil companies typically offer Price Protection Plans in the summer for the upcoming season, so summer is the best time of year to secure the best oil pricing.
Changes in Global Prices For Crude Oil
Heating oil is refined from crude oil, so as the prices for crude oil naturally fluctuate due to changes in global supply and demand, so too will the price of heating oil. This means that heating oil prices can be affected by political issues like war and sanctions, as well as organizations like OPEC that may want to slow down production to restrict supply and maintain stable prices.
Local Availability and Competition
The number of heating oil suppliers in your area can also have a big effect on how much you pay. For example, if there is only one supplier in your area, they have complete control over how much they would like to charge because the consumers in their region don’t have any other options.
However, if you live in an area where there are many fuel delivery options, they will have to lower their prices to remain competitive, which means that it’s much easier to get cheaper oil when you live somewhere with more options.
Chester County Fuel Oil: Heating Oil Delivery Made Easy
Are you looking for a company that you can trust to get you the heating oil you need when you need it? Look no further than Chester County Fuel Oil. They have been providing quick and reliable heating oil delivery services to residential and commercial customers in West Chester and the surrounding area for over 40 years, and they don’t plan on stopping anytime soon.
From the day Chester County Fuel Oil opened their doors, they’ve been committed to providing exceptional service at great prices so that it’s easy for you to keep your energy costs as low as possible. They offer Price Protection Plans which allow you to lock in pricing for the season, giving you control and protection against price fluctuations. In addition, they offer a variety of delivery options and flexible payment plans, so there’s no reason not to choose them for all your fuel delivery needs.
Heating System and Oil Burner Service Contract Prices
Chester County Fuel Oil doesn’t just deliver heating oil. They are also the most trusted comprehensive HVAC service company in the region, offering a full range of HVAC services that help homeowners and businesses keep their air conditioning, home, hot water, and heating systems running smoothly.
Their expert HVAC technicians are some of the best in the business, and they are well-equipped to make repairs on the fly so that even if your system does break down, they’ll have it back up and running in no time.
Chester County Fuel Oil’s service contracts start as low as $289 per year, which is a small price to pay for peace of mind. No matter what HVAC system maintenance needs you have, their quality service plans help you ensure that your hot water and home heating and cooling systems will continue to work properly all year round.
Contact Chester County Fuel Oil Today
Are you interested in heating oil delivery services? Do you want to ensure that your hot water heater, furnace, and cooling systems are ready when you need them most? Give Chester County Fuel Oil a call! They are always happy to discuss what they can do to help and can walk you through all your options until you find a service that meets your exact needs. Don’t settle for anything less than the best. Call Chester County Fuel Oil today!
