Saving Money on Home Heating Oil in Norwich CT

by | Apr 12, 2013 | Oil and Gas

The price of Home Heating Oil Norwich CT is dependent on factors such as local demand due to a very cold winter. Heating oil has been cheaper for several years in many areas due to mild winters here and in Europe. Even so, it is still a large expense for many families, and there are ways to pay even less for a good supply. Most price-saving strategy depends on how it is purchased.

Some people buy their oil when it is needed. This is ideal for people who don’t need a lot, or who don’t have a large area to heat. This is often not the best way to save money, because the customer pays the going rate, and prices are highest during months of most use. Some dealers will sell on a price protection basis, which means that they pay a contract price for the entire heating season.

Another method is a prepaid plan in which the buyer pays for a large supply in advance. Timing is the key here. It typically costs less to fill a heating oil tank in summer than it does in the peak of winter. However, there is a slight chance that oil prices will fall, and then the savings will be erased.

Dealers can be flexible in their payment arrangements, which may weigh the odds in their favor as a preferred supplier. Plans that sell oil as needed may offer automatic delivery through the heating season. This helps one budget their money and takes away the need to constantly monitor a tank. Running out of oil is not only a bad situation in freezing temperatures, but it will cost more money to have a dry furnace burner primed. Service agents charge an average of $80.00 to do so.

When making a large purchasing decision such as for heating oil, it is prudent to take some time to compare prices and look at payment options. The best bet is to take the summer to prepare for winter. Getting the best deal on this needed commodity can free up funds to eventually buy an even more fuel efficient furnace.

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