| Though the bulk of the residential heating market | | | | In some areas, several suppliers compete for |
| has switched to natural gas in most regions of the | | | | their share of the residential heating oil market. |
| United States, approximately 8.1 million of the 107 | | | | This competition can often result in higher prices |
| million homes continue to use heating oil as their | | | | as well. A final factor that affects the price of |
| main source to heat their homes. Of this 8.1 | | | | heating oil is operating costs. In more remote |
| million, nearly 82% of these homes are located in | | | | areas, the transporting of the fuel to inhabitants |
| the Northeast region of the United States, and | | | | can be much more costly, resulting in higher prices |
| these homeowners are extremely interested in | | | | for those consumers. These operating costs are |
| the foreign and domestic oil market because it | | | | affected by employee wages, equipment costs, |
| can really affect their wallets and pocketbooks in | | | | lease or rent for the dealer, etc. All of these |
| the frigid months of late October through March. | | | | factors are present when the monthly bill reaches |
| Many variables influence the rise and fall of the | | | | the homeowner. |
| price of heating oil. One of the largest of these is | | | | There exist many ways to lower heating bills in |
| demand. During the winter months, more oil is | | | | the depths of winter. The easiest can be achieved |
| needed by consumers, and the price increases. | | | | by the homeowner him or herself, simply by |
| Many homeowners try to beat the system by | | | | winterizing the home. Proper insulation within the |
| filing their storage tanks at the lower prices of | | | | walls of the house combined with energy efficient |
| summer, but few own tanks large enough to get | | | | windows and adequate caulking and weather |
| them through the winter months. Most | | | | stripping around them can result in a much more |
| homeowners must have their tanks filled and | | | | cozy abode that requires less heat to be |
| refilled up to five times during the course of one | | | | comfortable for its inhabitants. Budget plans also |
| New England winter, so higher prices can make | | | | exist with most dealers to help spread the cost |
| for a lean holiday season. A typical homeowner in | | | | of heating during the winter months across the |
| the Northeastern United State might use | | | | entire year of bills. Though consumers cannot do |
| 650-1000 gallons of heating oil during the winter | | | | anything to influence the price of oil directly, by |
| months. Another contributing factor in the price of | | | | taking proper precautions at home to conserve |
| heating oil is, of course, the price of crude oil, also | | | | their energy, they can be less affected by |
| influenced by supply and demand. | | | | inevitable price changes. |