For many homes in the Northeast, heating oil is a critical energy source, so tracking NE oil prices is essential.
This article provides a quick overview of the factors that influence those prices and includes resources you can use to stay on top of them. You can also find state- and region-specific pricing information through the links below.
What influences heating oil prices?
A few key factors tend to drive heating oil prices up or down.
Global crude oil prices
Because refineries turn crude oil into heating oil, the price of crude has a big impact on the price you ultimately pay. Geopolitical events, supply chain snags, and changing demand can all affect crude oil prices.
Regional supply and demand
In the Northeast, winter weather plays a big role in heating oil demand. When temperatures drop, heating oil consumption tends to rise.
Limited refinery capacity or distribution infrastructure in a region can also affect supply. If pipelines aren’t able to keep up, bottlenecks and price spikes can result.
Where can I find information on NE oil prices?
Several resources track heating oil prices in the Northeast. Some sites offer state-by-state breakdowns, so you can see prices in your specific area. For instance, you may be able to select your state to view current heating oil prices.
Other resources provide even more localized pricing, breaking down costs by region within a state, like Rhode Island. Some sites also offer dealer login options and contact information, in case you have questions for suppliers.
Closing Thoughts
Keeping an eye on heating oil prices in your area can help you plan your household budget. Fortunately, there are a number of websites and other resources that provide local and statewide price information.