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What is the Best Month to Buy Heating Oil?

Written on: May 20, 2024

Johnny Prescott helps you manage your heating oil costs

heating oil Concord, NH In the cyclical world of energy economics, timing can significantly impact your home heating costs. Heating oil, a critical commodity for millions of homeowners, especially in colder regions, is no exception. Understanding when to buy can lead to substantial savings and ensure you stay warm without burning a hole in your pocket. This post dives into the logistics and strategies behind optimizing your heating oil purchase.

Understanding the dynamics of heating oil prices

Heating oil prices are not static; they ebb and flow due to a variety of factors, making some months better for purchasing than others. Seasonality plays a huge role, as demand typically increases in colder months, leading to higher prices. However, global market trends such as crude oil supply, geopolitical tensions, and economic indicators also influence costs. Additionally, local demand can cause regional price discrepancies depending on your location’s climate and alternative heating options availability.

Ways to control your heating oil costs

Historical price trends suggest that summer and late spring often present the most opportune times to buy heating oil. During these months, demand is lower as fewer households require heating, leading to softer prices.

That’s why now is the time to enroll in pricing and payment plans from Johnny Prescott! Here’s what we offer.

Budget Plan: Starting every July, we’ve got a Budget Plan for your heating oil expenses that spreads out over 11 months. We figure out your heating oil costs and split them into 11 easy payments. You pay the same low amount each month and never get hit with a huge, surprise bill!

Price Cap: With our Price Cap program for heating oil, you lock in your heating oil costs at a fixed, capped price. The best part? Your cost won’t go up, no matter what happens in the oil markets. And if prices fall, guess what? Your heating oil price drops too!

PreBuy: With our PreBuy plan, you lock in your heating oil price during the summer. Then, when it’s time to start heating your home, we’ll deliver your fuel right to you, whenever you need it.

The impact of weather and climate change

The unpredictability of weather patterns, exacerbated by climate change, can create volatility in heating oil prices. Warmer winters reduce demand, potentially lowering prices, while sudden cold snaps can drive prices up. Staying informed about long-term weather forecasts can provide additional insights for making your purchasing decision.

Natural disasters caused by climate change, including extreme weather such as hurricanes, can cause disruptions at refineries along with pipelines and other distribution methods. These disruptions can cause sudden, unexpected price spikes. That’s why locking in your heating oil costs now with Price Cap or PreBuy makes sense!

Energy conservation strategies

Reducing your reliance on heating oil through energy conservation is another effective strategy to manage costs.

Implementing home improvements like upgrading insulation, sealing leaks, and installing programmable thermostats can significantly decrease your consumption.
Consider adopting energy-efficient practices, such as reducing thermostat settings by a few degrees during the night, to further cut costs.

Remember, every homeowner’s situation is unique, so consider reaching out to local suppliers for personalized advice and current offers. By combining a proactive purchasing strategy with efforts to enhance your home’s energy efficiency, you can ensure a warm, cost-effective heating season.

Now is the time to enroll in our pricing and payment plans so you can take control of your heating oil costs! Contact Johnny Prescott to learn more.