Friday 03 April, 2020

Now May Be the Best Time to Buy Heating Oil

With the U.S. and most of the world’s economy at almost a standstill, the use of petroleum has naturally decreased. And it has decreased by quite a lot. Since the oil market is “supply and demand” based, the slow down has affected prices. The lack of demand has stifled the supply and now oil companies need to move the product.

petroleum price April 2020

Crude oil by the barrel

Take a look at this graph below. You can see what I’m talking about.

The point of this blog post is that now may be the best time to buy your heating oil. It seems counter-intuitive to buy heating oil when things are getting warm and we have a full summer ahead of us. But, we may never see these prices again. And the prices are sure to rise as demand returns once the economy starts flowing again.

Heating oil doesn’t evaporate. So, if you fill up your tank now, it will be the same when it is time to use it again in the fall. In fact, heating oil is good for ten years. It is a very stable liquid.

Call the staff at Sterling Oil to get prices to fill your tank now and save some money, They will be happy to serve you in the greater Lynchburg Area and Surrounding Counties.  We can also take payment over the phone so you there is no need to come by the office.

 

 

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