Why do heating oil prices change so often?

The price you pay for heating oil isn't set by your supplier alone. Global, regional and local forces all play a part. Here are the big five.

1. The price of crude oil

Crude oil is the raw material, and it can make up as much as 70% of the price of heating oil. When crude moves, heating oil follows.

2. OPEC and world events

Production decisions by OPEC, plus geopolitical events, sanctions and weather in oil-producing regions, all change how much oil reaches the market.

3. Weather and demand in the Northeast

More than 90% of U.S. heating oil is used in the Northeast, so a cold snap here can push prices up nationwide.

4. Local competition

The number of suppliers in the Attleboro/Taunton and northern Rhode Island area — and how close we are to a shipping port — affects local prices.

5. Other fuels

Prices for natural gas and propane influence demand for heating oil, and so its price.

Found a lower price?

Call our office. We'll work to match a competitor's price — then order your delivery.