Now that winter has arrived, it’s important for homeowners to consider cost-effective ways to keep their homes warm throughout the season. If you use home heating oil, the professionals at Apple Oil say understanding the pricing trends can make it easier to budget utility costs. Located in West Haven, CT, the leading technicians provide top quality residential and commercial services, from home heating oil delivery to oil tank installation and repair services.
3 Ways the Price of Home Heating Oil Is Affected
1. Weather Conditions
Home heating oil prices remain steady throughout the summer months due to a lack of demand. Once the temperatures drop, this can cause an immediate spike in oil prices due to the sudden demand. Storms make it more difficult for a company to deliver oil, so this can also play a role in rising prices.
2. Increase in Consumption
If you live in an area where the use of home heating oil is prevalent, you may run into issues with supply and demand. Increases in consumption can decrease the amount of heating oil in storage faster than it can be replenished. If a refinery is unable to keep up with demand, this will cause the price of oil to increase.
3. Crude Oil Prices
The cost of crude oil plays a major role in influencing home heating oil prices. The state of the economy and political climate are both factors that can impact the price, as crude oil is a worldwide commodity.
If you’re looking for affordable home heating oil, turn to the expert technicians at Apple Oil in West Haven, CT. Whether you require delivery services or an oil tank installation, the team has the resources available to meet your needs promptly. Call (203) 934-3835 to speak with a friendly representative and to obtain a free estimate. You can also visit the website for more information about their full list of services.
