Higher energy prices are hurting us all, Click here.

About Heating Oil Pricing: Part 1 of 2

Posted: April 10, 2018

Signboard question mark

Our customers ask us lots of questions every year, but two of the more common ones are “what will my heating oil cost this year?” and “what’s the best way to pay for it?”

The honest answer to the first question – for us or any other heating oil supplier – is “we don’t know.” The answer to the second question is “it depends.”

Vague answers, we know…but don’t worry – we’ll explain what we mean in this two-part blog post on heating oil basics.

The ever changing price of heating oil

As you may have noticed, the price you pay for heating oil can change – sometimes considerably – from one heating season to the next. This happens because many forces influence the market price for heating oil.

Here are five of the most important ones:

As you can see, there are many variables that determine where heating oil prices might go in Rhode Island, which is why prices are so difficult to predict. That unpredictability is a key reason why we offer heating oil payment plan options that help you manage the risks associated with heating oil pricing. We’ll talk more about those plans in Part 2 of this post – stay tuned!

While we can’t predict the price of heating oil, we do guarantee you’ll always get a fair price on every single gallon you buy from us. Contact us today to become a Vaughn Oil customer and see for yourself!