To bare the extreme climatic conditions, people use the furnace to heat up their home. With the increase in demand for these home heating oil’s, there is fluctuation in their price. With the approaching winter’s, many heating oil companies shoot their oil prices and such hike in prices are more like a burden for mediocre families.
These oil prices vary from month to month. In summers season, the price drop downs as there is less demand for these oils.
Generally the oil price hikes at the peak season that is at year end- December to February. The supplies reduce at this time and demand is increased; the inventory runs low and prices shoot up.
Factors such as refining cost, marketing cost, distribution cost, crude cost, and transportation expense are responsible for raising the per gallon cost.
Even home heating oil price is adversely affected if there is a high market demand and less supply. These were some of the factors which directly and indirectly affect the cost of the heating oil.
How to Lower the Cost?
There are few tips which can help you in reducing your monthly expenses at the time when home heating oil prices are above the roof. In most of the cases, it has been seen that the house temperature is not well maintained due to which more fuel is required for keeping the house warm.
One of the best and effective way to reduce this extra fuel usage is by using plastic and covering the windows. This will decrease the energy loss rate and hence less fuel would be consumed to maintain your house temperature.
Another way to reduce the monthly bills is by keeping the thermostat at sixty degrees or even lower and switching the heat off when you are not around. These are some of the effective ways to cut the excess cost of burning fuel. You can check over here with more ways to reduce the cost of your monthly bills while saving over energy usage.