Home heating oil is expensive, and with the rising prices of crude oil throughout the world, there are no signs that the cost will be going down. For those of you who use a heating boiler that runs on oil, this can be a cost that is almost more than you can afford. This is especially true if you buy home heating oil in the wrong month, when it is the costliest. However, it is easy to wait until you actually need home heating oil to buy it. It is during the coldest months, when everyone realizes that they need it that the cost goes up by leaps and bounds.
That leads to the question. When is the best time to buy home heating oil? During the summer, when there is little to no demand for heating oil, the prices fall. Because no one is buying it, it goes down in price and you can take advantage of that knowledge. You most likely have never actually thought of buying heating oil during the summer because you do not need it and you may even have a little oil left from last winter. However, if you wait until the first chill in the air, you will be waiting until everyone else thinks about needing heating oil too, and when the demand goes up, so too does the price.
If you take a look at the trends in heating oil costs, you can get a good idea of the best months to buy, and those months would be at the first of the summer, when the winter months are the last thing on anyone’s mind. Of course, this means you will have to take the time to remember to buy your heating oil when you do not need it, but the savings can be quite drastic, and you could end up saving hundreds of dollars every year.
This year, while you have time, go ahead and start looking at the trends for heating oil costs. Chances are, the prices will start dropping around May and June and then start rising again in September or October. If you choose to purchase your heating oil between those dates, you can save a great deal of money. With the constant rise in crude oil prices, it becomes all the more important to find ways to shave off some of the cost to heat your home, and this can be an excellent way to do so.
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