It can be hard to budget when you don’t know what your costs will be. The price of heating oil is one of the expenses that can be difficult to predict, and you may wonder why it varies significantly from year to year. Apple Oil in West Haven, CT, has put together a list of some of the factors that affect prices.
Seasons & Weather
There will be more demand for heating fuel in fall and winter, but did you know the weather impacts the price too? The time of year when heating oil sees its highest demand is also the time of year when some of the most severe storms occur. When it’s hard to deliver fuel due to inclement weather, it costs companies more to get it to customers, but we do everything in our power to those cost down..
Cost of Crude Oil
Crude oil makes up roughly 66% of the cost of every gallon of heating oil, so it’s a huge factor in the price. And it doesn’t only depend on factors here in the U.S. Crude prices can depend on anything from the amount of current and future supplies and reserves to natural disasters and political unrest.
Your Area & the Companies In It
The demand for heating fuel will be higher in New York than in Florida, for instance. If you live in a cold weather climate, you’re likely to see prices in the higher range. The amount of competition in your area and your distance from the closest refinery are two other factors in cost. A newer neighborhood may also be more energy efficient and, therefore, have less demand for heating oil.
For more than 30 years, Apple Oil has provided home heating oil delivery with excellent customer service. They also offer installation, maintenance, and service of oil tanks. If you have an emergency, the technicians at Apple Oil are on call 365 days a year. Give them a call at (203) 934-3835, or visit them online to see how they can help you.