Heating oil is commonly used by homeowners who have furnaces that require oil to power up. Many people who don’t have access to direct gas supply lines purchase furnaces that need to be powered by heating oil. However, you must know that the prices of heating oil tend to differ considerably. The prices vary based on a plethora of different factors, so it’s important that you read a bit about them. Heating oil prices differ largely throughout the course of the year. Here are some of the major factors that impact heating oil prices.
International Exchange Rates
This one might be obvious, but a lot of people still don’t understand it: the heating oil prices in Groton, CT are affected by the fluctuations in the international exchange rates. Crude oil is an internationally traded commodity, so the prices vary based on the slight variances in the currency pairs. If the exchange rates are higher, the prices increase automatically. Most companies keep a tight check on the international exchange rates and adjust their prices accordingly.
Profit Margins and Distribution
After companies purchase crude oil, they have to process and refine it as well. The prices also vary based on the profit margins and the costs of distribution that the company has to incur. If you want to know more about the latest prices of heating oil, you should visit our official website. We supply heating oil throughout Groton and charge the most affordable prices to our customers. We constantly revise our rates to provide only the best quality of oil available. If you want the oil delivered to your place, you can place an order directly through the site or by contacting us on the phone.