Fall Weather Fluctuates CT Oil Prices

CONNECTICUT - In the northeastern United States the average heating season lasts approximately 24 weeks, from the middle of October through mid-march.

In the first survey of oil dealers for the season, the U.S. Energy Information Administration (EIA) reported an average price among full service heating oil dealers of $3.759 per gallon for October 12, 2011, ($0.88 per gallon above the same time one year earlier when the average price was $2.979/gallon).

While moderate early fall temperatures reduced demand for heating oil coming into the 2011-2012 heating season, a frost warning in the first week of October (2011) drove demand and caused a $0.15 - $0.20 per gallon rise in retail fuel oil prices. Within days of the price spike, temperatures soared into the 80's again decreasing demand.

The EIA's short-term prediction calls for only a 10% rise in retail fuel oil pricing over the 2010-2011 heating season's average cost.

A random survey of Connecticut oil dealers on October 12th (2011) found C.O.D. prices ranging from $3.25 to $3.67 per gallon for delivery of 150 gallons or more.

While C.O.D. pricing can seem attractive, consumers should consider the value of any included heating system tune-up, burner cleaning, service contract, tank monitoring, automatic delivery or budget pricing factors that a full service dealer may offer.