What Affects the Price of Heating Oil?

Just like the price of gasoline for your car at the pump, many factors influence the cost of heating oil. The price can hold steady for days at a time or fluctuate wildly from week to week depending on greater market conditions. What are some of the things that influence the price of heating oil?

Seasonal Demand

In the winter months (typically October through March), the demand for heating oil is highest. As a result, the price of heating oil often increases. That is why many customers choose to lock in low pricing by ordering heating oil in the late summer and working with companies that offer the most cost-effective rates like Husky Heating Oil.

Operating Costs

Another factor in the price of heating oil is operating costs, or how much it costs for companies to bring fuel oil to your home. At Husky Heating Oil, our automatic delivery customers save the most because they allow us to optimize our delivery routes for the most cost savings on our end. We pass that savings on to you.

Crude Oil Price

Crude oil prices can vary a great deal, and the price of heating oil will generally fluctuate in line with crude oil prices. How much it costs for refiners to create fuel oil will directly influence the amount that you pay for it. As with most supply-and-demand products, the global economy, national economy, and environmental conditions can impact heating oil prices.

Location, Location, Location

In accordance with where the coldest temperatures are, the majority of heating oil in the United States is purchased in the Northeast region. Approximately 20% of homes in the Northeast use oil heat and they account for an amazing 84% of all residential heating oil sales! Because these colder states use so much fuel oil during the winter, prices can increase during peak periods when demand is very high. In general, prices reach a peak between January and March.

Get the Best Price of Heating Oil from Husky Heating Oil

Husky Heating Oil is a leader in high-quality heating oil delivery for homeowners in Anne Arundel County, Baltimore County, Carroll County, Harford County and Howard County. Since 1993, we have worked hard to deliver our customers cost-effective fuels to heat their homes. To check our rates or place your order, please visit our website or call us today at (410) 220-5386.