As we were ready to publish our newsletter, some customers were asking us why heating oil prices haven’t fallen as fast as gasoline prices.
While gasoline and heating oil are both distillates of crude oil, their prices don’t always track the same way. The better comparison is diesel fuel. Diesel and heating oil are virtually the same product. They are just taxed differently.
Diesel prices have surged because fuel is scarce worldwide, unlike gasoline. There are simply not enough refineries right now to meet post-pandemic global demand, especially since the U.S. and Europe curtailed buying Russia’s energy exports.
The good news is that we maintain a winter-ready inventory of heating oil at our secure on-site fuel storage facilities. We also have solid relationships with reliable fuel suppliers.
We want you to rest easy. As we’ve done for many years, we promise to deliver comfort and peace of mind to you.