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October 15th, 2015:

Heating Oil Costs Lowest in Years

American Energy Coalition - October 15th, 2015

Dell Cromie never thought he'd see heating oil prices sink this low. "I never thought I'd see it under $2 again," Cromie, the owner of Glassmere Fuel Service in West Deer, PA, told the Pittsburgh Tribune-Review. "If you buy 200 gallons of home heating oil, you only pay $1.959 a gallon." Last year at this time, Cromie was selling 200 gallons for $3.39 a gallon. "It's down appreciably right now," he said.

Shawn Jackson, the owner of Jackson Oil in Valencia, PA, said his customers have been taking advantage of the low prices. "Normally, people just say, 'Give me 150 or 200 gallons,'" he said. "Now, they're saying, 'For that price, fill it up.'" Jackson said he's selling 200 gallons at about $1.84 per gallon. "It's the lowest it's been in at least 10 years," said Jackson, who's been in the oil business for 26 years.

The Albany Times Union also reported recently on lower heating oil prices. "Home heating oil is about $1.20 lower per gallon right now in New York state compared to last year, and home heating oil bills should between 25 percent to 39 percent lower this winter compared to last, according to state and federal energy data," the Times-Union wrote.

Making things even better for the consumer is the fact that forecasters don't expect this winter to be as brutally cold as last winter. According to the National Oceanic and Atmospheric Administration, this winter is likely to be about 13 percent warmer than last winter in the Northeast.

To read the Pittsburgh Tribune-Review article, click here.

To read the Albany Times Union article, click here.

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