When trying to stick to a household budget you may be looking for ways to reduce costs around your home, like shopping the sales at the grocery store or taking advantage of a price drop at the gas station. You might be wondering if there’s potential to save on your heating costs the same way and if there’s a better time to buy your furnace oil. While it might not be as straightforward as using a coupon at the store, we have a few tips to help you keep your heating costs down.
Heating oil prices are similar to gas prices, they fluctuate frequently depending on the cost of crude oil, which can be affected by any number of events across the world. Companies like West Nova Fuels and Superline Fuels will adjust our prices, sometimes even on a daily basis, based on how much we have to spend to acquire that oil that we sell to you. Prices can also fluctuate based on demand, with costs going up when more oil is being purchased. You’ll find heating oil prices are often higher in the winter when everyone has their furnace running all the time, versus in the spring and summer when we all turn our heating systems down or off. Purchasing heating oil during these slow periods when demand is low can save you money.
Now, you may be thinking “but if my heating system is off why would I purchase oil?” Besides the chance to buy at a lower price, filling up your tank during the off season can also help keep your system working optimally. A full oil tank is much less likely to sweat inside and cause moisture build up that leads to rust and other issues like leaks. Check out our blog on furnace maintenance for more info. It also means you’re ready for when the temperatures drop in the fall and won’t need to scramble to get a delivery when many other people are also looking to purchase.
The other thing you’ll want to do in the off-season is make sure you have your furnace thoroughly cleaned and inspected to make sure it’s also working well. Having duct work cleaned periodically and replacing air filters on your furnace on a regular basis will potentially save you from any expensive repairs in the future. A clogged air filter can cause high fuel costs because the fan can’t blow the warm air from the furnace to the vents by short cycling the furnace. It’s also good to keep furniture and large items away from radiators and hot air vents when the heating system is on, so heat can circulate properly. This will keep your furnace working more efficiently, which will save you money in the long run! Read up on preparing your furnace for summer here!