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David Perry, Red Maple FX Top Broker Strong on Heating Oil
Heating oil demand is seasonal. When crude oil prices are stable, home heating oil prices tend to rise in the winter months - October through March - when demand for heating oil is highest.
By: Red Maple FX Trading
Demand will vary depending on factors such as the economy and the weather. Weather events in the United States and political events in other countries can affect supply. The amount of oil that members of the Organization of the Petroleum Exporting Countries (OPEC) produce can also affect world crude oil prices.
Competition in local markets varies. The number of heating oil suppliers in a region can affect the level of price competition in that area. Heating oil prices and service offerings can vary substantially in places with few suppliers compared with areas that have a large number of competing suppliers.
Consumers in rural locations that have fewer competitors may pay higher prices for heating oil. Regional operating costs can vary.
The cost of delivering heating oil to remote locations can also affect heating oil prices. The cost of doing business can vary substantially depending on the area of the country where the dealer is located.
David Perry notes "A homeowner in the Northeast might use 850 gallons to 1,200 gallons of heating oil during a typical winter and consume very little during the rest of the year. The cost of crude oil changes."
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