Some Savvy Ways to Get Cheaper Heating Oil Prices

Posted: Jan 27, 2013
Author: Bumgarner Oil

If you’re running your furnace on heating oil, you know that keeping your home warm during winter can be fairly expensive. But, with some savvy shopping techniques, it’s possible to save money on heating oil prices for every gallon that you buy. Over an entire winter, even a savings of a few cents per gallon can make a difference.

Firstly, fill your tank during summer, not winter. In winter, heating oil prices peak, especially towards the end of the season. Generally, you’ll get the best prices during July and August.

Consider joining an oil-buying co-op and combine forces with other consumers to buy heating oil in bulk to get cheaper prices. If there’s no such group in your community, why not create one with other like-minded homeowners?

Check the news and pay attention to energy prices. If there’s an announcement that heating oil prices are set to rise, act fast and place an order before local companies get the chance to increase their prices. Usually, there’s a lag time of 2 to 3 days before companies respond to market changes.

Sign up for a heating oil contract. Heating oil companies usually offer discounted prices to contract customers. A contract may be fixed – in other words you pay a set sum for the whole season, or it may be capped. A capped contract involves a set price at a high point, but if heating oil prices drop, you pay the lower rate. The company may require you to buy a minimum number of gallons to be eligible for a contract.