If you own a heating system that runs on oil, purchasing the fuel might be one of your biggest dilemmas. After all, oil prices fluctuate a lot throughout the year. Making your purchase at the right time can help you save a significant amount of money. However, this isn’t as difficult as it may seem.
Tips to buy heating oil at low prices
Considering the fluctuations in oil prices, it may seem that your expenses would depend solely on your luck. However, this isn’t really true because despite the fluctuations, the price changes follow certain trends. Keeping track of these trends would enable you to buy the fuel while they cost less.
- Buy oil in summer or autumn
The oil prices are usually cheaper in summer due to the lack of demand and tend to shoot up in winter. Hence, it would make sense to purchase the fuel in advance, during the summer months. If you cannot buy it in summer, try to get your tank refilled at least by Autumn. In most cases, this should work and help you save money.
- Buy oil in bulk
Just like any other commodities, it is smart to buy your oil in bulk when the prices are low. You need not worry about the fuel going bad because the oil can last for up to at least 24 months. This would protect you from sudden price surges and you would enjoy the peace of mind knowing that you have enough oil for the winter.
- Track the prices
You might want to go an extra mile and keep track of the price changes. This would enable you to buy the oil when the prices are the lowest. Although rare, oil prices may rise in summer. In this case, keeping track of the price would save you from accidentally making the purchase while the price is high.
- Choose the right supplier
The oil prices also vary from one company to another. While it is not necessary that you give up on quality completely and buy the cheapest oil, it makes sense to choose a heating oil supplier that charges reasonable rates. The leading companies are also quite helpful and can guide you with picking the right time of the year for a bulk purchase.
Other benefits of buying the oil early
As mentioned earlier, purchasing your oil in advance during the off-season would help to curtail the expenses. In addition to the cheaper rates, another key advantage of filling your tank early are:
- It would extend the lifespan of the tank and the system. This is because if you wait until winter, a large portion of the tank would lie empty. Now, if the volume of air exceeds that of oil, moisture from the air starts condensing on the walls of the tank. It results in the growth of micro-organisms that corrode the tank and clog the system with sludge.
- If you wait to refill the oil tank when it gets low or runs out, circumstances may force you to purchase the oil when the prices are the highest. This would incur additional expenses that you can easily avoid.
- Not keeping the oil tank full can land you in a difficult situation. After all, you would not want the system to run out of oil during cold weather conditions. Hence, it is simply safer to refill the tank timely.
Smart homeowners always keep track of the oil prices and make their purchases at the right time. The leading oil suppliers can provide you with adequate oil at any time of the year.