Winter’s not over yet, which is why it’s still important to think about the costs involved in keeping your home warm. There are several factors that affect home heating oil prices, and knowing what they are can help you predict what to expect when it’s time to make a purchase.
Here are a few of the elements that go into determining the price of home heating oil:
- Weather: During the warmer seasons, home heating oil prices tend to remain stable. The colder the weather, the higher the prices will rise, as this means an increase in demand. Other weather factors that can impact the price include storms, which can increase the need for heat and impact a company’s ability to deliver.
- Regional Supply: The number of heating oil suppliers in a local market can impact the price in the region. Heating oil prices will often be higher in an area with less competition.
- Crude Oil Costs: Crude oil is a global commodity, which means global crises and political events impact the price. Supply and demand around the world will also dictate how much heating oil costs.
- Government Policies: Any new policies issued by the government could limit the use of home heating oil and thus could change the pricing. Health and environmental issues have often impacted the government’s safety requirements for plants, causing the prices to increase.
If you’re looking for the most affordable option when it comes to home heating oil in Norwich, CT, turn to family-owned Norwich Discount Oil. Call (860) 886-5508 today for a free estimate on their home heating oil prices or to schedule a consultation. You can also visit their website to learn more about the company and their services.