According to a recent energy outlook produced by the U.S. Energy Information Administration (EIA), households heating primarily with heating oil are predicted to spend 4% less on heating during the 2020 winter than in years prior to the 2019–2020 season. This is good news for oil heat consumers everywhere, particularly in our area of the Northeast. The price of oil is low and stabilizing, making it the most reliable it has been in years and a positive choice for winters to come. Heating oil companies have less spending on wholesale and operating costs when the cost of oil goes down, so it translates into even less expensive oil.
Along with lower-than-average fuel costs and the improved efficiency you can expect by upgrading to a new heating system, you can also gain peace of mind that your equipment is much less likely to need emergency repair! This will help to reduce the risk of unexpected service costs throughout the heating season.