Good news - and much to be thankful for – warmer winter and lower fuel prices could mean big savings
Good news! According to the U.S. Energy Information Administration (EIA) which publishes energy statistics and analysis, your fuel bill for the 2019-20 heating season will likely be less than it was last winter.
EIA predicts that compared to last year we should all see some savings on our fuel bills, especially if you heat with propane or heating oil. This is based on current prices in the energy markets and NOAA seasonal predictions which calls for more moderate temps in the Northeast. Of course, weather forecasts can fail and the energy markets can be volatile in response to global forces. Therefore, this is a peek into what is likely and NOT what is known or guaranteed.
To put current pricing in a broader context the EIA website (https://www.eia.gov/) offers a treasure trove of information. For example, using the “Real Prices Viewer” one can learn that the average October price on residential heating oil, when adjusted for inflation, was the same as in October of 1984, and roughly 3o% less than just 6 years ago! During that same period the prices on natural gas stayed about the same as did costs for alternatives like wood and solar.
We are happy to celebrate any news that spells out why fuel oil and propane are still the best choices for home heating. Unlike the dire predictions of the 1990s, our fuels are still affordable and are cleaner than ever, with advances like ultra-low sulfur fuels and biofuel blends which burn clean and are better for your equipment.
Have a happy, warm and safe Thanksgiving everyone. We are thankful the fuels we deliver remain a top choice and are proud of our longstanding commitment to safety and customer service. We would be remiss if we didn’t also thank you, our customers, for your business.