Understanding Heating Oil Prices

Why do oil prices in Maine change?

heating oil prices maineWe all know that oil prices fluctuate from year to year. Why is this the case? Here’s a breakdown: The market price of oil is affected by several factors that are constantly changing. With that in mind, it is not possible to predict prices and how they will fluctuate.

Click here to take a look at the U.S. Department of Energy’s outlook for crude-oil prices.

Factors that Influence Crude Oil Price

The heating-oil-pricing equation is a complicated one. Here’s an overview of how it works.

Weather-Related and Seasonal Demand: During especially cold or otherwise extreme winters, oilheat prices are often driven upward. Operational costs, including overtime, and competition between oilheat dealers also lead to price variations throughout the winter.

Looking Out for You

Local, independently owned heating oil companies work hard to ensure homeowners and businesses in the area get the best prices possible without compromising on quality, safety or environmental concerns. They also ensure you have the heating and home comfort experience you deserve in several other areas as well, regardless of what’s happening in the market.

Reach out to your local oilheat dealer to find out about their delivery, pricing and payment options. Contact us if you need help tracking down a dealer.