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2017 Winter Heating Oil Prices Outlook

Heating Oil Prices

The U.S. Energy Information Administration (EIA) maintains analysis and projections regarding winter fuels outlooks, which can be an ideal way to understand the fluctuations in heating oil prices, so you can know what to expect. They compile information about weather forecasts, expected consumption, and anticipated retail heating oil prices.

Overall, the 2017 season is expected to be higher than last winter because crude oil prices are expected to be 24% higher than last year, but overall household heating expenditures are expected to be lower than the five winters before last, when heating oil prices were considerably higher. This also takes into account that our winter temperatures are expected to be about 10% to 17% colder.

Other types of heating methods are also expected to be higher this winter – natural gas 22% higher, electricity 5% higher, and propane 5% higher.

Heating oil is still a popular choice for heating, regardless of this increase in heating oil prices. It is dependable, and you get to choose your provider, unlike with electricity, which usually just has one option. Because we want to keep your business, our team at Bumgarner Oil goes above and beyond with excellent service and two different delivery options (will call and autofill), so you can rest assured you will not be without heat this winter. Feel free to call us to discuss a new account or with questions on your existing account. We have been serving the Hickory, North Carolina area since 1954 with heating oil, kerosene, automotive and industrial lubricants, and Bio-Heat products.

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