At Quote Me Oil we are always asked when the best time to buy kerosene heating oil is. The answer isn’t as simple as it sounds, and predicting the heating oil price is a very difficult task.
Oil prices are driven by global changes in supply and demand along with a number of other geopolitical factors. Worldwide oil production is controlled by OPEC – the Organization of the Petroleum Exporting Countries, which aims to keep a stable price-per-barrel for crude oil. OPEC’s goal over the past decade has been to keep the price of oil around $30/barrel however major global events have made this task increasingly difficult over time.
Winter brings heavier demand for kerosene heating oil and we advise our customers to fill their tanks in the summer months in preparation for the winter.
Factors that effect your kerosene heating oil price include: