Do you use heating oil to keep your house warm in cold Connecticut winters? If so, you’ve probably wondered why the price of home heating oil seems to be constantly in flux. As the team at Norwich Discount Oil in New London County explains, several factors can influence how much you pay.

Top 3 Factors That Affect the Price of Home Heating Oil

1. Crude Oil Costs

Home heating oil is produced using crude oil, and as a result, all of the costs are directly linked. As crude oil prices rise or fall, so do the expenses faced by those who produce and distribute home heating oil. This will ultimately cause a rise or fall in consumer prices as companies try to balance fair pricing while maintaining a profit.

2. Seasonal Demand

The laws of supply and demand apply just as much to home heating oil as they do to any other product. Quite simply, as the demand for heating oil rises in cold weather, prices will rise. During the warmer months, however, prices will drop to make up for the minimal demand.

3. Alternative Fuel Costs

The demand for alternative heating fuels, such as kerosene and natural gas, can also impact the price of home heating oil. For example, if natural gas were to experience a sudden, dramatic spike in cost during the winter, many people might start using heating oil instead. However, this would put increased demand on the heating oil supply, which would then cause the cost of heating oil to rise as well.

With competitive pricing and discounts for military, seniors, police, and firefighters, Norwich Discount Oil will always provide the best home heating oil price. Visit them online to learn more about their oil delivery service, or call (860) 885-0654 to ask about the current prices.