In early October, OPEC announced it would slash crude oil production by two million barrels a day. Within just three days, our suppliers increased the cost of heating oil by 70 cents per gallon!
This is not just impacting heating oil. Expect natural gas, electricity, gasoline and propane to move higher too. This is not simply about supply and demand. When prices move this far this fast, you can always see the impact of Wall Street firms that jump in to take advantage of the momentum to make a quick buck. It frustrates the heck out of us.
Of course, by the time you’re reading this, things may have turned around just as quickly. We saw prices spike in spring only to drop by over a dollar in summer. There are just too many variables to know where things will go from here.
There are many things we can’t control, but we will always prioritize our existing customers over new ones. We will go the extra mile to keep you safe and warm. And we will be there when you need us.