Ledyard, Connecticut

The Causes of Heating Oil Price Fluctuations September 5, 2018

Ledyard, New London
The Causes of Heating Oil Price Fluctuations, Ledyard, Connecticut

Throughout the season, you may notice variance each month on your heating oil expenses. Though many delivery companies offer plans that make it simple for homeowners to budget, it’s smart to understand what causes the fluctuations in cost. Here are three common causes of the dips and surges in price.

What Affects Your Home Heating Oil Prices?

New London County, CT heating oil1. Weather

The colder it is outside, the greater the demand for heating oil. To meet those demands, refineries must have sufficient supply for delivery companies. In the event of a treacherous winter or colder than anticipated temperatures in the fall, homeowners may higher prices.

2. Crude Oil Costs

The pricing of crude oil itself is dependent on global supply and demand, weather conditions, natural disasters, economic concerns, and even the political climate. Refineries determine how much heating oil to produce based on how much they pay for crude oil. If it’s too pricey, they may not make enough to provide to home heating oil delivery companies. A reduced supply will naturally cause prices to rise.

3. Location

Homes in cold climates have a naturally greater need for heating oil. If the demand in your area is especially high, you will likely notice higher prices. However, not all heating oil delivery companies offer identical rates. A limited number of area suppliers creates rate surges, while more vendors create competition for customers. Delivery services must also factor in transportation costs. Some may assess additional fees based on how much oil your tank can hold.

 

Prepare your home for the cooler months ahead by investing in quality heating oil from the team at Andersen Oil Company. Serving New London County and surrounding areas in CT, the company makes it easy for homeowners to manage their budgets with a 10-month plan that puts a cap on the maximum amount you’ll spend. This means you never have to worry about fluctuating heating oil prices and how they might impact your financial situation. Since they understand emergencies happen, they’re available 24 hours a day and can be there to assist when you need them the most. Visit the home heating oil delivery company’s website for information about their service and budget plans, or call them at (860) 464-7628.

Other Announcements, Events and Deals from Andersen Oil Company
5 Signs You Need Boiler Replacement, Ledyard, Connecticut
If your home has a boiler, you’ll need to know a few basic maintenance tips to keep your interior environment comfortable and warm. Part of proper upkeep includes knowing when i...read more
What Are the Differences Between Indoor & Outdoor Residential Oil Tanks?, Ledyard, Connecticut
If you’re looking for an affordable and efficient way to stay warm at home, an oil heating system is fantastic. It’s safe, stable, and burns much more efficiently than other forms of...read more
What You Need to Know About Heating Oil & Fuel Additives, Ledyard, Connecticut
When it comes to the fuel used for your home heating system, there’s more to consider than just the base heating oil itself. Fuel additives may have a significant impact on the perfo...read more
Does Home Heating Oil Expire?, Ledyard, Connecticut
Heating oil remains one of the most popular ways for homeowners to keep their living space warm and cozy through the winter months. For those who use this fuel source, it’s common to...read more
4 Ways to Avoid Burst Pipes This Winter, Ledyard, Connecticut
No homeowner wants to deal with the headache and expense of burst pipes in winter. There are a few smart ways to keep your pipes safe from the cold, whether by stocking up on fuel fo...read more