Home Heating Oil Prices – Don’t Spend Too Much

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There are so many people who prefer using heating oil to heat their homes. It can be easily observed that prices vary with the seasons. In the colder months, the cost of heating oil goes up as the home heating oil is quite in demand. During the summer season, oil is not in demand and the prices go down.

These prices often fluctuate up and down month to month, but usually, the most costly season of the year and the most expensive months to buy oil is in December, January, and February in most parts of the country. You can buy fuel oil through heating oil companies or oil companies Long Island at a reasonable price.

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Low inventory in the winter pushes prices up – it's the commandment of supply and demand. It is a petroleum product.

Where It Comes From

The oil that is used to heat homes in the United States comes from a variety of sources comprising those on our own shorelines (domestic heating oil) and those across the sea (foreign). You can also know about heating system Repair and Maintenance Company in Long Island via various online sources.

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With more than seven million individuals in the U.S. using oil to heat their homes, the domestic heating oil supply would never be sufficient to meet the demand. This is the other reason the U.S. is dependent on foreign oil. Imported oil normally arrives in the U.S. from Venezuela, the Virgin Islands and Canada via tankers, rail cars, trucks pipelines and barges.

Normally, oil arrives in the U.S. at the main seaport and then it gets distributed to other regions of the country. Once the heating oil reaches its envisioned destination, distributors and refiners will redistribute the oil to storage tanks or by truck, and then directly to the customer's home or to the point of sale.

What Determines Prices?

Prices are determined mainly by the price of crude, but when it comes to a per gallon cost, the expense to refine the oil and the marketing and supply costs of the product also come into play.