April 14, 2013
Heating oil prices have been declining over the past few weeks.
Why is this happening? Because of the weak economy here in the U. S. and other countries in Europe, Russia and China. So demand for oil is low and not expected to change no time soon, is what some financial experts are predicting.
And the climate change to warmer weather during the winter season in the past few years, felt in many parts of the world, have left higher inventories of oil.
With demand down and inventories up at record levels... keeps the oil prices declining.
Since it is at the end of the 2012-2013 heating season many of you may
not feel it's really relevant to price watch oil now. But when crude oil is down the price for heating oil follows.
So if you are one who likes to get a good deal on heating oil before the next heating season starts... then watch the prices from time to time during the summer.
Prices typically go down during the summer months and start going back up about August. But this year the prices appear to be dropping low earlier then normal.
So if you are one who usually buy heating oil in the summer to save on costs going into the next season... this year seems to be very promising, unless something changes.
Oil prices dropped during the summer of 2012 to $3.56 per gallon which was the lowest price for fuel oil we had for the year. We notified some of our customers by direct mail in an effort to give them the opportunity to take advantage of topping off their oil tank at a drastic savings.
Well by the time the mail got to them, the price had started going back up, since prices on the stock market for oil change daily. So only a few were able to take advantage of it.
This year we will not be sending out notices by mail but will use this website to notify our customers.
We will post the price change in a blog and send out notices by email to those who signed up for our price watch program.
If you are already our customer... you can sign up for the price watch program or call us with your email address so that we can notify you when the prices drop.
If you are currently not our customer but would like to be notified of the prices when they drop in the summer.... just sign up on the price watch program to be notified.