Buying your home heating oil probably isn’t the first thought on your mind if you’re sat on the beach, ice cream in hand.
However, if saving money on your heating costs is important then it does always pay to buy your heating oil when prices are lowest.
The price you pay for your oil is directly influenced by the wholesale price suppliers pay which fluctuates on a daily basis. ‘Supply and demand’ is a huge factor when it comes to the price of heating oil.
Short-term fluctuations more directly affect prices in the heating oil market compared to the gas and electricity markets. Therefore, timing is everything Summer’s is usually the best time to buy. Low demand drives prices down. And it’s also important not to leave buying oil to the last minute as emergency deliveries can sometimes include additional costs.
By staying ahead of the game and ordering while supplies are high and demand is low, you will be saving money compared to buying your heating oil supplies when you are about to run out, which may just occur during a period of high demand.