What Determines Home Heating Oil Price?
W.H. Riley offers fuel at a reasonable price
Homeowners throughout southeastern Massachusetts know that they can rely on W.H. Riley & Son for the heating oil they need when they need it. We offer the best quality heating oil and you can always count on us to deliver clean-burning fuel that will improve your oil heating system’s efficiency, environmental friendliness and lifespan.
While W.H. Riley & Son offers our fuel at fair and transparent prices, the price of our heating oil does fluctuate. This is the case anywhere and with any fuel provider.
There are actually quite a few reasons why this happens, which we get into below.
Factors that impact the price of heating oil
The price of the gas that we get at the local gas station changes and the price of the eggs that we buy goes up and down. The same goes for heating oil. This is because of:
- The cost of crude oil: Heating oil comes directly from crude oil. Therefore, if there is a change in crude oil pricing, the price of heating oil will be directly impacted and affected.
- Supply and demand: The basic concept of supply and demand applies to many of the goods and products that we buy and use and heating oil is no exception. When heating oil is more in demand, its price will go up. You will often see this happen during a particularly cold and long winter. When demand for a product drops, prices will drop as well. This happens to heating oil in the spring and summer when people aren’t using their heating systems.
- Associated costs: Producing, transporting and delivering heating oil all costs money. If labor, gas and storage costs go up, the price of heating oil will do the same.
How long a heating oil supply will last
Since the price of heating oil does indeed fluctuate, you may want to try to minimize how many orders you place throughout the year. You therefore need to think about how much fuel you anticipate using per winter season.
On average, a house that is between about 2,000 and 2,500 square feet goes through between about five to eight gallons of heating oil a day during the winter if seasons are at or around the freezing mark. This comes out to about 700 to 900 gallons per winter season.
Tips for homeowners who use heating oil
W.H. Riley & Son has some tips that homeowners who use heating oil can follow to help set themselves up for a successful (and warm!) winter season.
First, if you are a will-call customer, you absolutely want to keep track of your fuel levels. This will help you prevent a fuel run-out and will let you know if and when you do need to place another fuel delivery. You can do this by reading the gauge on your fuel tank.
You also may want to order your heating oil in the spring or summer. As we said above, prices will likely be cheaper. This will also help ensure that your heating system is ready for the cold weather.
Contact W.H. Riley & Son for your heating oil
Stay warm all winter long with heating oil from W.H. Riley & Son. We offer Bioheat Plus® fuel as well as an automatic delivery option.
Contact W.H. Riley & Son today to learn more about the heating oil services we offer throughout the southeastern Massachusetts area.