When the heating season began on October 1, the average heating oil price in the Upper Hudson region, which includes Orange County, hovered around $3 per gallon—or 6% less than last year at this time.
These average rates are based on survey data collected by the New York State Energy Research and Development Authority (NYSERDA) You can check the latest average home heating oil prices by going here.
We keep close track of this, too, because our heating oil prices consistently remain below the statewide average. That’s why we can promise you Guaranteed Fair Pricing. We are the only heating fuel company in the Hudson Valley who makes this guarantee!
It’s important to point out that prices collected for the statewide averages include those offered by discount delivery companies. These are the dealers that offer no credit terms, repair service, pricing or payment programs or supply guarantees. If you took the discounters out of the mix, our price looks even better.
We think our customers deserve dependability, convenience, safety and personal service—all at Guaranteed Fair Pricing. That’s one of the many reasons why we always tell our customers, “We’ve got you covered!”
Understandably, people who heat their homes with oil always have concerns about where heating fuel prices may be headed, especially as we approach wintertime. Yet it’s very difficult to predict which direction prices will go because there are many factors that cause energy prices to rise and fall.
For example, unrest in oil-exporting countries leads to concerns that exports may be hampered. Other perceived shortages, often related to the weather, also cause worries for commodities traders. Their actions result in world oil market prices rising and falling on a daily basis.
Here’s a closer look at some of the variables that can affect the price you pay for your heating fuel.
The price of crude oil is the most important heating oil pricing factor. Heating oil, gasoline, diesel and jet fuel are among the many products refined from crude oil. The problem here is that crude oil is a globally traded commodity, which means it is subject to many forces that drive its value up or down.
These forces can include destructive hurricanes that temporarily shut down major refineries. International crises can also have an effect on crude oil production. Although events like these may not actually lead to fuel shortages, prices around the country—including the prices of gasoline, diesel fuel and heating oil—can all rise based on speculation in the stock market about what could happen in the coming weeks and months. This is known as the “fear factor.”
In a brutally cold or volatile winter, prices often rise because demand is at its peak and sometimes supply can become strained. On a local level, operational costs (including overtime) and even competition between dealers can result in price variation.
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