Heating oil prices are at an all time low and consumers are wondering why. This price reduction has led to a decrease that consumers are paying to fill their home heating oil tanks. This, in turn, translates into reduced home heating costs. However, as most homeowners are well aware of, the prices of oil do fluctuate and the prices that you might pay today can be very different in a month from now. This is why homeowners like to have a general idea of what they need to budget for when it comes to home heating expenses.

There are many factors that cause the price for heating oil to go up and down. However, the price of a crude oil barrel is cheaper than last winter. In the following article by Market Realist, they discuss heating oil prices:

Analysis Of Heating Oil Prices

Heating oil prices are anticipated to be lower than the previous winter due to the lower estimate of crude oil prices and generally delicate worldwide distillate business.

Brent crude oil prices are estimated to be $50–$55 per barrel this winter, which would be $13–$16 per barrel lower than the previous winter. The worldwide oil business sector continues to encounter an overabundance of supply compared to demand.

In any case, raw petroleum costs are exceedingly questionable, and any deviation in raw petroleum costs from conjecture levels would bring about a comparable deviation in retail heating oil costs and purchaser consumption.

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This article states that heating oil prices are lower than they were last year. Furthermore, it states that one of the reasons is a small demand for oil in comparison to the supply that is being produced. However, consumers are curious on how long these prices will last and if they will go up soon. In the following article by Seeking Alpha, they talk about the overabundance of heating oil and the affect on price:

Crude Oil Supplies Are Enormous

One of the best tools for monitoring the real-time impact of supply and demand in the world of commodities is term structure or the forward curve. Last week, crude oil term structure told us that prices may fall for oversupply reasons as the contango widened.

At this juncture, the price of crude oil looks like it has more room on the downside given the current state of market structure and momentum.

This section was originally found on the “Seeking Alpha” website which can be viewed here.

The author states that crude oil prices are so low because of the increase of supply. They also say that heating oil prices can continue to drop. This implies that home heating costs will be at an all time low. Furthermore, weatherman have predicted that this winter will be a mild one and so it will not cost as much to heat your home.

The heating oil prices are so low that it is one of the most popular topics on the news channels. It is probable that you will read about how low the prices have fallen and what to expect for this year’s home heating costs. In the following article by WMTW TV, they discuss how heating oil is the lowest it has been in quite some time:

The average statewide cash price for heating oil dropped five cents from two weeks ago and stands at $2 per gallon, according to the most recent survey by the Governor’s Energy Office.

State officials said heating oil prices are among the lowest they have seen for this time of year in years.

The Energy Office said plummeting crude oil prices are responsible for the steady drop in heating oil prices. Crude oil has dropped from $107 a barrel in June 2014 to just above $40 a barrel now.

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Heating oil prices are at an all time low and heating oil companies claim that the prices will not rise for quite some time. The overabundance of supply in conjunction with reduced demand is one of the principle reasons that heating oil prices are so low and will continue to be throughout the winter. Furthermore, this implies that homeowners who heat their home with heating oil can enjoy the savings that they will gain when budgeting for home heating costs this winter.

When you are in the market for the best prices for heating oil in your area, Charity Oil provides top-notch service and discount prices. On top of that, Charity Oil donates five cents for every gallon of fuel you buy. These donations go to one of five fantastic charities.

This provides an easy way for customers to support charities each time they order fuel. It is a great way to donate to those in need while purchasing heating oil which you already need to heat you home with. By doing this, you will be in contact with affordable fuel suppliers you can trust.

To get started with your online fuel order, please click here. This will begin the registration process. The best part is that you can order your home heating oil online, 24/7! Contact us today or give us a call at (845) 470-1000 if you have any questions.