Heating Oil Expenses Might Go Up, But Still Stay Down

- 4:56 pm - October 25th, 2016


Like our surfing penguin who stays down for anything, heating oil expenses for this winter are expected to remain on the low end of the spectrum. That’s the word, according to the U.S. Energy Information Administration (EIA). The EIA’s recent Winter Outlook predicts that heating oil expenditures will increase by 38% compared to last winter, but still remain below normal.

 

As always, one of the main reasons homeowners can expect to spend more on heating is that temperatures are dropping. This year’s winter might not be so bad, but let’s face it — anything will feel frigid compared to last year’s unusually warm winter. “In the Northeast, NOAA expects temperatures to be 13% colder than last year but 2% warmer than the five winters prior to last year and 1% warmer than the 10-year average,” EIA reports.

 

Fuel expenses might follow a similar trend. In spite of recent increases, “oil prices are expected to remain well below their 2010-15 winter average, contributing to expectations that average heating oil expenditures this winter will remain almost one-third less than during that period,” according to EIA reports.

 

North Shore Oil offers a number of payment plans and price protection options that help our customers control their seasonal heating expenses. We also offer a wide selection of fuels, including not just heating oil, but also propane, kerosene and even coal, which you might be surprised to learn remains pretty popular in our area.

 

To find out more, give us a call or complete our online contact form. Or, you can jump right in, with our secure online credit application, and start riding the heat wave to high-quality home comfort service that’s worth every penny in any season.