EIA Updates Its Heating Oil Price Forecast

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Earlier this month, the U.S. Energy Information Administration (EIA) provided an update on its forecast for home heating oil prices for the coming year. If you haven’t had a look, we recommend spending a few minutes with it.

Overall the heating oil picture looks positive heading into what is predicted to be a relatively mild start to the 2020/21 heating season – but as is true in any year, that picture can change quickly. Here’s why.

The problem with predicting heating oil prices

Why are heating oil prices so variable? Mostly because they are the result of the constantly-changing factors, some of which include:

So what’s the best way to save on heating oil delivery in CT?

While predictions in the most recent EIA report look positive overall, they could change quickly in unpredictable COVID-related conditions, with a pending U.S. presidential election to come. The bottom line is we can’t be certain where national or Connecticut heating oil prices will go.

But we do know where you should go to buy heating oil in CT: Hocon.

Why? Simple: we guarantee our price will be at least 25 cents less than the state average.* In fact, we are often much lower than the state’s average*!

When Hocon delivers your oil, you get the full range of conveniences and protections—including automatic delivery, service & maintenance, monthly payment options, Auto Pay, and equipment installations. But you get them at a Guaranteed Fair Price that will help you save big on heating oil delivery in CT.

To learn more, contact the heating oil experts at Hocon today!

*State average price is reported weekly by the US Energy Information Administration; oil prices are subject to change on a daily basis. EIA only reports weekly prices from October through March.

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