In the midst of winter, homeowners and businesses start dreading the arrival of their heating bill. Good news! Heating oil prices are now at half of last winter’s cost! Northeast and Midwest consumers will catch a bit of a climate break this winter, as the studies below have predicted a milder winter. Low oil prices will surely make for the most affordable winter season yet when it comes to heating your home or office building.
Lower Heating Oil Prices
Let’s get down to the real savings. Chris Isidore, a writer for CNN Money reports that some consumers are expected to pay 20% less for heating oil this winter. Both natural gas and heating oil prices are half of what they were last year. “Some consumers are expected to pay as much as 20% less for heating oil this year.” That’s a huge drop!
The Energy Information Agency is projecting much lower heating costs for most Americans due to the combination of lower prices and lower consumption.
Lower Consumption Due To Warmer Climate Condition
Warmer climates have also had an effect on heating oil prices. Instead of the oil industry receiving cold weather conditions to get rid of their oversupply of oil, it’s been a milder winter for most Americans. This fact has further caused a decrease in heating oil prices, as they are desperate to get rid of it! The US Energy Information Administration predicts that the Northeast will be 13% warmer than last year.
Until recently, you probably had your thermostat set back by a few degrees. Thanks to the increase in temperature (outside of our occasional blizzard), you might not need it as much this season. Your furnace energy efficiency should also be up to par, as homeowners and businesses won’t need to be running their furnace constantly. As with most heating systems, increased usage equates to more wear and tear.
But When In Doubt, Hire A Lawes Home Comfort Specialist
Although the climate temperatures are expected to increase, it will still be cold enough to use the furnace. If you do need a new, modern furnace to heat your home this season, Lawes Company offers incredible service when it comes to furnace installation. We can provide you with information regarding what type of furnace would best suit your home, as well as tips on furnace energy efficiency. Perhaps you just need more heating oil for that furnace of yours? Lawes Company offers full-service oil delivery. We also provide certified oil and gas burner technicians to further assist in keeping you comfortable all season long.
Either give us a call today at 732-741-6300, or make an online request for your next delivery!