Home heating oil prices in Connecticut are constantly fluctuating. When buying heating oil for your home or business, it is important to understand the factors that affect Connecticut oil prices:
Seasonal Demand – The cost of CT heating oil shifts with each season. Since heating oil is used more frequently when it’s cold outside, CT oil prices often rise during winter. From October through May, the demand for heating oil is typically at its highest.
Crude Oil Costs – The price of CT heating oil is directly affected by the cost of crude oil. Crude oil prices are determined by worldwide supply and demand, as well as by outside factors including global economic and political shifts.
Regional Factors – Since heating oil suppliers adjust their prices based on the prices of their competitors, the amount of heating oil suppliers in a region may affect local heating and CT oil prices. Similarly, regional operating costs, such as the cost of delivering oil to remote locations, may affect the price of heating oil in CT.