Let’s be honest: the last few years have been rough for consumers in Newton and across Eastern Massachusetts. Whether at the gas pump, in the grocery aisle or sitting at your kitchen table and opening a utility bill, you’ve probably faced more than your fair share of sticker shock.
Unfortunately, heating oil has not been immune to the price surges in all energy sources — and all products, really. We can report that heating oil prices are markedly lower now than they were at their painful heights in 2022. Even so, we appreciate that Needham Oil customers want some sense of stability with a fuel that faces regular market fluctuations.
Here’s a rundown of what influences heating oil prices and a few ways we can help.
Traditional heating oil is a distillate of crude oil, which means that its price is tied to the ups and downs of global energy markets. There are a decent number of international factors that have impacted heating oil prices in recent years. These include the following:
Then, there’s the demand component. Almost all the heating oil usage in the U.S. happens in the Northeast. So, if there’s a sustained cold snap or blizzard in our part of the country, demand rises — and prices do, too.
Finally, operational expenses can affect heating oil prices. These variables include transportation, storage and delivery costs. At Needham Oil Complete Heating & Cooling, we work hard to maintain stable supplies and run our operations smartly so we can keep these expenses low.
There are some simple, effective ways to save money on your heating costs that won’t adversely affect your winter comfort.
When you use heating oil to stay comfortable in the winter, most of your fuel expenses occur in a few frigid months. Needham Oil customers can stabilize their billing and slash their winter expenses with our SmartPay budget plan. We’ll spread your heating oil costs over the course of the year. You’ll always know exactly how much your fuel costs will be, even if you need two deliveries in one month.
If you’re interested in discussing ways to lower your heating oil expenses, please reach out to the Needham Oil team today.