Heating oil is commonly used by people who have a furnace oil heater. During the winter months, you will need to put in heating oil within your heating appliance to keep the place warm. If you don’t have access to the state gas grid lines or do not have a heater that works on other forms of fuel, a furnace oil heater is a fantastic option. However, it’s very important that you buy the heating oil at affordable rates. There are many companies that currently offer heating oil throughout Connecticut. If you are in Norwich, the first thing you need to do is check the heating oil prices. You might realize that the prices continue to fluctuate excessively. Here are a few factors that affect the heating oil prices.
International Exchange Rates
One of the most important factors that impact the heating oil prices in Norwich, CT is the international exchange rates. Crude oil is traded in the international markets and the rate at which it is being sold affects the prices. If the international exchange rates for crude oil are higher, it’s obviously going to be sold at a much higher price here. Similarly, the exchange rate of the currency also has an impact. If the dollar weakens or strengthens, it’s going to impact the price of crude oil as well.
Demand
Demand for heating oil goes up during the winter months. Similarly, during the summer months, the demand decreases sharply, which is why the prices are lowered as well. It’s one of the reasons why so many people buy the heating oil in bulk quantities. You can click here for more info to find out about the prices.
