Fuel Oil Prices
Fuel oil prices are of significant interest to families in the colder reaches of the country. Many families do not use natural gas to heat their homes, and many manufacturing plants use fuel oil to heat boilers that are used to heat the plant, and in some cases to make steam for running certain equipment.
For this reason, the current price of delivered fuel oil is kept track of by families and companies that use fuel oil for heating or other boiler operations. The current price can be found on the Internet by state and city. A buyer can stay abreast of trends in prices and time their buying with it at a better price level. Many of the fuel oil companies will keep their customers up to date on the company's delivered prices.
Where And How To Get Current Prices
Many of the fuel oil suppliers will keep their customers informed about current prices by email, fax, or on their website. The price varies depending on demand and the quantity ordered, the current demand by all customers, and the current price that the supplier has to pay to get their oil. Most suppliers either buy with long-term contracts or by hedging the price in the futures market. The supplier then marks up their supply of oil to cover expenses, delivery cost, and a profit on the product. Smart buyers use the current prices to see if there is a trend developing for the future price of oil. Taking delivery when the demand is low is always a good time to look at buying. Staying informed about the current price makes sense for home owners, as this can be a major expense during the winter months. Businesses that use even more fuel oil are even more aware of the current price movements. Homeowners use current prices, and businesses use the current price trend to figure the best time to take another delivery. More than likely the business buys more in a season, so this is a bottom line expense that the business wants to control.
Here is one website to get a handle on prices http://tonto.eia.doe.gov/oog/info/hopu/hopu.asp.
This site covers the current price of fuel oil and propane. There are also charts that show the price trend, which is a useful tool for predicting the price level months from now. Timing a purchase can be worth several hundred to thousands of dollars if the purchase is done correctly. When the demand is down, the oil company is more than willing to make a delivery when the temperature is near 100 in the shade.
Check Out More Than One Supplier
It never hurts to see what other local suppliers are charging for delivery of a certain quantity of fuel oil. When doing this comparison, it would also be worthwhile to check out fuel oil tank prices including installation. Fuel oil tanks do need to be kept in good repair, and there will come a time when they need to be replaced by the owner. Again, this is not something that should be done in the height of the season The off season is the time to get bids or information. The fuel oil tanks are important for these tanks can hold an entire season’s supply of fuel oil. That can represent a great deal of money from any family budget.
The Internet Is A Fuel Oil Users Friend
Fuel oil users can find out just about anything they want to know about fuel oil. Who are the local suppliers, the current prices, can a buyer do it by contract for the season, or any other questions the buyer may have or are concerned about. Anyone with a computer and access to the Internet can get solid information via the search engines that delve into the facts available on the Internet. There is little about any subject that cannot be investigated on the Net. Once an Internet user has all the facts, a better decision can be made about purchasing fuel oil. Information is powerful in the hands of any buyer of any product, and fuel oil is not an exception. There are a number of sites that will give current prices by state and even cities in some cases. If the supplier is willing to set up a long term contract for delivery, this can be discovered and the terms examined.
Why investigate this area of fuel oil? The prices of this product along with propane and gas are on the rise and are now a long way from where they used to be. It is wise for any user of fuel oil to understand the trend and plan for this winter time expense. Businesses have a similar problem, only the dollars involved are larger. In both cases, an investigation of this price movement shows that the trend of prices is sharply up. There are educated guesses as to where it may top out, but they are just that, guesses.
Fuel oil is a commodity, and this makes it subject to supply and demand forces on its price. At the present time, there is an obvious trend in place and that trend is up. A very cold and long winter is also a factor in certain states as to price and delivery time. Buyers that keep track of the price variations are aware that the prices in the off season are normally the best time to buy a refill of the fuel oil tank. Prices in the height of the season are significantly higher than those during the off season.
With this being true most of the time, there still are smaller trends in the price. Buyers should be aware of the larger trend and even smaller trends. Use the Internet to get current information about the prices and delivery of fuel oil. In some cases, the local companies will keep the customers informed as to what they are charging at the present time. All it takes is for the customer to sign up for continuing information by email or fax.