Written on: January 15, 2024

What Influences Heating Oil Prices in New York?

Heating oil prices change because of regional and worldwide pressures.

heating oil Sayville, NY Ever wondered why your heating oil prices can seem to be all over the place from month to month or year to year? When other things we buy are at fixed, predictable prices, having to deal with the wildly fluctuating cost of heating oil can be frustrating — especially when inflation is high.

During the recent period of soaring inflation, many who were struggling with the high costs of gas, rent and food didn’t appreciate having to deal with high heating oil prices, too. Even when inflation goes down, it can be hard to budget when you don’t know how much your energy bills are going to be every month.

Why heating oil prices go up and down

Heating oil prices across Suffolk County and beyond are dependent on several factors, including:

Regional seasonal demand. Did you know that households in our own Northeast region consume about 90 percent of the heating oil used in this country? Of course, that’s largely due to our cold winters. Because these supply and demand issues affect New York heating oil prices, we are committed to securing fuel earlier in the year before typical winter price surges — and then we pass those savings on to our customers.

Crude oil markets. Heating oil is distilled from crude oil (just like gasoline, diesel and kerosene), so that’s why prices are tied to the global crude oil markets. Over the past few years, we’ve seen heating oil prices go up and down based on regional and international geopolitical issues — including lower refinery production during the COVID-19 pandemic, OPEC members cutting production, and the Ukraine-Russian war affecting Russian oil supplies. Plus Wall Street activities can complicate things as speculators try to profit from higher heating oil prices.

Operating costs. The costs of labor, transportation and storage to deliver heating oil to you can change. For example, when production drops and we have to get fuel from suppliers that are farther away, our expenses go up. Even so, we do everything we can to keep our operating costs low so that we don’t have to pass too much of those costs on to our customers.

Easy Swezey payment plans

Having the heating oil you need to keep your family warm and your household running during the coldest Long Island nights is important. At Swezey Fuel, we work hard to ensure you get it at a fair, transparent price.

We also know times can be tough — and it doesn’t help when you don’t know what your heating oil bills will be from month to month. That’s why we offer several convenient pricing plans and hassle-free payment options.

These include our EasyPay budget plan, which gives you a better way to have predictable oil bills every month. We estimate your total yearly costs and then give you a monthly bill that can be paid electronically or by check or credit card. Not only will we credit you if you have a balance at the end of the year, you get a 2% annual rebate when you stick with EasyPay!

We also make it simple to manage payments through paperless billing and AutoPay options.

Helping families in need

We’re glad to share that Project Warmth — an emergency fuel fund created by United Way of Long Island that provides a one-time grant for fuel or fuel-related electricity — is available to Long Island families struggling with heating costs.

Whether you’re a current customer wanting a simpler way to manage your heating oil bills or you’re looking to make the switch, our family-owned business is here to provide dependable, cost-effective heating oil delivery and service. Just contact us today!