What Influences Heating Oil Prices?
Putting your heating oil (if that’s what you use to heat your New England home) to use during the cold and sometimes bitter winter months is pretty much a guarantee. What is less of a guarantee is what heating oil prices will look like.
The price of heating oil is constantly fluctuating and moving up and down. This is a direct result of some ever-changing external circumstances.
The Influences On Heating Oil Prices
There are many issues at hand that effect heating oil prices. Here’s a snapshot of a few:
- The price of alternative fuel: A lot of homeowners make the switch to using heating oil when alternative fuel prices increase. This creates a higher demand for heating oil, which, in turn, increases prices.
- Crude oil prices: The market price of crude oil accounts for about two-thirds of the cost of heating oil so as crude oil prices rise, heating oil prices follow. Since crude oil is traded globally, there are numerous market forces that can effect its pricing.
- Politics: Politics and political agendas can affect if purchasing heating oil and crude oil is viewed as a good thing. If it’s a politically backed thing to do, chances are prices will rise.
- Current affairs: Events that are going on in the world such as earthquakes, tsunamis, etc., as well as political conflict can influence the heating oil and crude oil market.
- Competition: The good news about living in an area that is generously populated with heating oil suppliers is that those suppliers compete for business. This benefits customers since that competition often knocks prices down.
- Cold weather: It’s no secret that as the weather gets colder, more and more people use their heat. As heat is used more and more, there is, of course, a higher demand for heating oil and sometimes a lack of supply, both of which increase the cost of heating oil. In the midst of a warmer winter, heating oil prices may stay relatively stable. Sometimes they even drop.
Hocon Can Help You Save On Heating Oil
Most people are constantly searching for a way to save some money. If this is the case for you and you are located in Connecticut, Hocon can help and here’s how: Our heating oil price is typically 25 cents lower than the state average.
That’s not the only way Hocon will help save you money. If you choose our monthly payment plan, you will be charged a fixed amount for your heating oil each month throughout the year, to avoid high bills during just the winter months. However, you only pay for the amount of fuel you actually receive. So if your fuel costs end up being higher or lower than what was estimated, we will adjust as necessry during the course of the winter.
You Can Count on Hocon
Hocon’s services go beyond heating oil delivery. We offer automatic delivery, servicing, maintenance, installations, various payment plan options and Auto Pay. And we offer all this at a guaranteed fair price.
With Hocon, your heating oil and heating oil services will arrive on time thanks to our reliable and dependable team. Contact us today to become a Hocon heating oil customer.