What Determines Home Heating Oil Prices?

Written on: February 26, 2024

Crude Oil Prices, Market Speculation and More

heating oil price Gloucester County, NJ

While Lawman’s Oil cannot control what happens with heating oil prices that are tied to the global market, we can give you some understanding about why heating oil prices rise and fall throughout the year.

We need to start by looking at the price of crude oil, which is usually the most important factor in the price that consumers will pay for their heating oil. Like gasoline and jet fuel, heating oil is just one of the many products refined from crude oil.

Crude oil is a globally traded commodity, which means that it is subject to many forces that drive its value up or down. So, when crude oil prices are on the high end, so too are heating oil prices—along with gasoline, diesel fuel and many other products.

The Fear Factor and Your Heating Oil Price

Remember, our energy markets are interconnected on a global scale. This means geopolitical events that can disrupt supply, like war or political unrest, usually affect prices of world crude oil, as well as natural gas and other fuels.

Even the possibility of a big disruption in the vital energy supply chain heavily influences the buying and selling done by commodities traders. We saw that two years ago when Russia invaded Ukraine and again more recently as financial markets feared the widening of regional instability in the Middle East.

All this uncertainty causes energy prices to rise based on speculation in the stock market about what could happen in the near future because of current conditions. This is often referred to as the fear factor.

Supply and demand also play a role in prices, but factors influencing price swings continue to evolve. Here’s an example. During the last few years, we’ve seen a pattern of heating oil prices falling in the winter but increasing in the spring.

This has happened because the price of heating oil is heavily influenced by the price of diesel fuel, which is driven by diesel supply and demand. Because heating oil and diesel

are practically the same fuels, changes in demand for one fuel generally affect the price of the other fuel. Read about the factors that influence diesel fuel prices.

Lawman’s Oil for Heating Oil Delivery in Gloucester County, NJ and Beyond

If your home uses heating oil, you deserve the peace of mind that Lawman’s Oil delivers, and it’s not just low prices. Our drivers are hard-working and tireless in the effort to keep your home heating oil tank supplied with fuel. From the coldest nights of winter to the more temperate days of fall and early spring, you can always rely on Lawman’s Oil to deliver comfort and dependability, every single time.

Discount Home Heating Oil in NJ, DE and PA

With some of the best heating oil prices in New Jersey, Delaware and Pennsylvania, Lawman’s Oil has you covered. With great pricing you will love, you will be able to enjoy life more and worry less about your heating oil than you ever have.

We make thousands of heating oil deliveries every single year to customers in many communities, offering the most complete, competitively priced, and reliable heating oil supply services you’ll find anywhere in the region.

We supply high-quality, discount heating oil to Gloucester, Camden and Salem Counties in New Jersey; New Castle County in Delaware; and Chester and Delaware Counties in Pennsylvania.

We also stand up to cancer by donating 1¢ of every gallon we sell to the American Breast Cancer Foundation, which helps provide mammograms, prevention and early-detection programs and support during and after diagnosis.

Contact Lawman’s Oil

If you’re looking for affordable heating oil from a fuel supplier that offers fast and hassle-free deliveries, reach out to us.

At Lawman’s Oil, we are always grateful to the loyal customers who have helped our business grow—and for the opportunity to impress new customers with our low prices, prompt deliveries and premium high-quality B20 Bioheat Plus® fuel.

That gratitude is why we work so hard every day to provide homeowners with reliable heating oil delivery service.