Home heating oil
Home heating oil is supplied by Barton Petroleum, an independent supplier of home heating oil to industry, farming and the home.
Barton Petroleum has supplied home heating oil since it was founded in 1972. Over the years, our reputation as a home heating oil supplier has grown, providing excellent levels of service in supplying home heating oil to our customers, who in turn have recommended us to others.
Home heating oil Supplier
Barton Petroleum delivers home heating oil to locations within a 25 mile radius of nottingham, loughborough, leicester, bedworth, hinkley, peterborough, market harborough, coventry, kettering, daventry, wellingborough, bedford, milton keynes, biggleswade, luton, aylesbury, st albans, amersham, watford, high wycombe, london, staines, uk, east midlands, east anglia, northampton.
Barton Petroleum delivers home heating oil to the Counties of Nottinghamshire, Leicestershire, Warwickshire, Greater Peterborough, Northamptonshire, Bedfordshire, Buckinghamshire, Hertfordshire, Surrey.
About home heating oil
Home heating oil is a petroleum product used by many Americans to heat their homes. Historically, home heating oil prices have fluctuated from year to year and month to month, generally being higher during the winter months when demand is higher. To understand the reasons for these price variations, consumers need to understand how home heating oil is used and how and where it is produced.
Who uses home heating oil? Many people us home heating oil. Residential space heating is the primary use for home heating oil, making the demand highly seasonal. Most of the home heating oil use occurs during October through March.
Some customers try to beat rising winter prices by filling their storage tanks in the summer or early fall when the price of home heating oil is likely to be lower. However, most homeowners do not have large enough storage tanks to store the full amount of home heating oil needed to meet winter demands. Because homeowners may have to refill their home heating oil tanks as often as 4 or 5 times during the heating season, rising or spiking prices are a concern.
Where does home heating oil come from? The main sources of home heating oil are domestic refineries and imports from foreign countries. Refineries produce home heating oil as a part of the "distillate fuel oil" product family, which includes home heating oils and home heating oil fuel. Refiners are limited in the amount of home heating oil they can make to meet the demands of the winter heating season. Some winter home heating oil is produced by refineries in the summer and fall months and stored for winter use. During the coldest winter months, the inventories that are built in summer and fall are used to help meet the high demand for home heating oil. Refiners can increase home heating oil production in the winter to a modest degree, but they quickly reach a point where, to produce more home heating oil, they would also have to produce more of other petroleum products which could not be sold in sufficient quantities during the winter months. On the other hand, if consumer demand is high for a seasonal product, such as gasoline, refiners may delay producing home heating oil for the winter, which may lower inventories at the start of the heating season. Home heating oil is brought into oil storage terminals in an area by refiners and other suppliers. For example, home heating oil may be delivered to a central distribution area where it is then redistributed by barge to other consuming areas. Once home heating oil is in the consuming area, it is redistributed by truck, to smaller storage tanks closer to a retail dealerıs customers, or directly to residential customers.
How much does a gallon of home heating oil cost? Home heating oil prices paid by consumers are determined by the cost of crude oil, the cost to produce the product, the cost to market and distribute the product, as well as the profits (sometimes losses) of refiners, wholesalers and dealers. In 1999, crude oil accounted for approximately 48 percent of the cost of a gallon of home heating oil. The next largest component of home heating oil price (45 percent) included the cost of distribution and marketing. Lastly, refinery processing costs accounted for another 7 percent.
Why do home heating oil prices fluctuate? Home heating oil prices paid by consumers can vary over time and by where a consumer lives. Prices can change for a variety of reasons. These include:
Seasonality in the demand for home heating oil - When crude oil prices are stable, home heating oil prices tend to gradually rise in the winter months when demand is highest. However, at times, prices can surge quickly to very high levels.
Changes in the cost of crude oil - Since crude oil is a major price component of home heating oil, changes in the price of crude oil will generally affect the price of home heating oil. Crude oil prices are determined by worldwide supply and demand. Demand can vary worldwide with the economy and with weather. Supply can be influenced by the Organisation of Petroleum Exporting Countries (OPEC) and other factors.
Competition in local home heating oil markets - Competitive differences can be substantial between a locality with only one or a few suppliers or dealers versus an area with a large number of competitors. Consumers in remote or rural locations may face higher prices because there are fewer competitors.
Regional operating costs of home heating oil - Prices also are impacted by higher costs of transporting the product to remote locations. In addition, the cost of doing business by home heating oil dealers can vary substantially depending on the area of the country in which the home heating oil dealer is located.
What Causes a Surge in Home heating oil Prices? Home heating oil prices sometimes can change dramatically in a short period of time. Why does this happen? If refiners, wholesalers, dealers and consumers have enough home heating oil in storage and temperatures do not drop rapidly, prices hold fairly steady (assuming crude oil prices are also not changing much). However, a rapid change to colder weather can impact both supply and demand of home heating oil; people want more fuel at the same time that harbours and rivers are frozen or delivery systems are interrupted. During this time, the available home heating oil in storage is used much faster than it can be replenished. Refineries normally cannot keep up with demand during these cold periods. Wholesale buyers of home heating oil become concerned that supplies are not adequate to cover short-term customer demand and bid up prices for available product. In the Northeast, for example, additional supplies may have to come from some distance away such as the Gulf Coast or Europe. It costs more to transport home heating oil from these sources to the Northeast, and it also can take two to three weeks to arrive. During the time that resupply of home heating oil from distant markets is occurring, the supply of home heating oil that sellers in the region have in storage drops further, buyersı anxiety about finding home heating oil in the short term rises, and so do prices sometimes sharply until new supplies arrive. Additionally, during very cold periods, prices of other heating fuels (such as natural gas or kerosene) may increase even more than home heating oil. In this case, some consumers may switch from using their normal heating fuel to using home heating oil, thereby increasing the demand for home heating oil.
What can you do to lower your home heating oil bill? You can arrange to have your tank filled in late summer or early fall when home heating oil prices are generally lower. Talk to your home heating oil dealer about participating in a budget plan to help stabilize your monthly bill. You can also talk to your home heating oil dealer about "cap" or fixed price protection programs, which can help keep costs down. You can obtain a home energy audit to ensure that your furnace and appliances are running efficiently before the season begins.
If you require any more information about heating oil contact us on 01933 224317. Our address is 6-7 Vaux Road, Finedon Road Industrial Estate, Wellingborough, Northamptonshire, England, UK, NN8 4TG.
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