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Posts Tagged ‘Heating Oil Prices’

Long Island Heating Oil Prices Fall on Record Inventories

Posted on: September 3rd, 2016 by Oil Prices
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The laws of supply and demand are at it once again with the US  and Long Island Heating Oil Prices sliding following a weekly inventory check. The inventory data showed the US stockpiles of crude oil and petroleum are at an all-time high with stockpiles increasing by a full 6.6 million barrels by August 19, allowing for a total of 1.4 billion barrels. The Energy Information Administration stated that the ‘global gut’ of crude that has been a burden for oil prices over the last two years has not fully shrunk.

Anticipating Long Island Heating Oil Prices

This month, it seems that Long Island heating oil prices have risen by a full 10% in the wake of rumor or belief that production might actually be frozen. While the petrol stockpiles have been rising significantly, there have also been rises in other fuel stockpiles which included propane, diesel, and ethanol. To put it lightly, even though there has been a rise in price, there is absolutely no shortage – in fact the supply has never been better.

There are other factors at play, however. For example, a tropical wave in the Atlantic Ocean threatened a storm over the Gulf of Mexico which brought potential danger to a number of refineries in the region. This potential storm saw gasoline futures settling at 1.08 cents per gallon and diesel futures settling at 0.55 cents per gallon.

Long Island Heating Oil Prices

Home Heating Fuel Prices Affected by Production Drop

You know how it works by now; oil companies need their supply to keep their customers happy and as supplies drop, so do prices. Of course, sometimes it seems to work in the exact opposite manner. The supply of oil is at an all-time high, especially in the United States, but that doesn’t mean production is at a high. In fact, US crude production actually managed to fall by 49,000 barrels, which could definitely account for some of the price increases that we’ve been seeing. It is uncertain as to whether or not fuel oil prices will rise to an unfathomable rate, but we should definitely be prepared, especially with the recent production drop. Don’t count your fuel oil heater out of the game just yet though.

Good News for Future Long Island Fuel Oil Prices

When it comes right down to it, yes, there are some difficulties and inconsistencies going on in the market right now, but that doesn’t mean the prices are going to be insurmountable. The best thing we can do is watch and wait as the prices balance themselves out over the next few months. As production picks back up, and given the surplus that exists right now, we can probably expect that Long Island fuel oil prices will remain steady and your home will remain properly heated for the foreseeable future – especially through the long, cold winter months.

Nassau County Residents – Call 516-986-2293

Suffolk County Residents – Call 631-714-2999

 

Home Heating Oil on Long Island and Diesel Fuel

Posted on: August 31st, 2016 by Oil Prices
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Oil Price in Nassau County – Call 516-986-2293

Oil Price in Suffolk County – Call 631-714-2999

 

There has been some major confusion over the years as to whether or not there is a significant difference between home heating oil on Long Island and diesel fuel. The confusion comes from the fact that you can substitute diesel for home heating oil and seemingly suffer no problems. There are some issues with doing so however which we will get to momentarily. For now, let’s talk about the differences between the two.

 

Understanding the Difference Between Home Heating Oil Long Island and Diesel

Home Heating Oil on Long Island and Diesel Fuel 

Diesel Fuel – Diesel is heavier than standard gasoline and takes on the appearance of oil. One of the properties that people find most memorable is that it is not quick to evaporate, nor it is it as volatile as gasoline. In addition to that it is less expensive than gasoline and therefore commonly used to power:

 

  • Boats
  • Trucks
  • Trains
  • Buses
  • Boats
  • And more

 

There are several variants of diesel, one of which is used for off-road vehicles in the US.

 

Heating Oil – Home heating oil is really just an umbrella term for fuels that can be mixed with heavier oil and ultimately produce more heat while they are burning. Due to their chemical composition that burn hot but burn less, making them far more efficient than their diesel counterpart.

 

Practical Differences Between Heating Oil and Diesel

 

Even if you’re trying to skirt around fuel oil prices in NY, diesel probably isn’t the way to go about it. Home heating oil is slightly higher in BTU content than diesel meaning you’ll have to burn far more diesel fuel in your system to achieve the same amount of heat. In other words while it might work in a punch, you certainly won’t want it for your long term solution. As far as the inverse goes, home heating oil does not have the same lubricating properties as diesel which means it cannot be used for automobiles or large moving equipment. When you’re in the process of choosing home heating oil in Suffolk County NY, make sure that you’re getting the best – there is no substitute.

 

What Is Cetane?

 

The last point that we are going to mention is the cetane factor which is similar to octane in gasoline. In any diesel engine there is a minimum cetane value that must be maintained if the engine is to work properly and it is usually settled on that a 40 cetane ceiling is acceptable, though there are some that require a 45. Understand that the additives used to make diesel engines work properly are NOT good for your furnace. It might work in a pinch, so to speak, but as time goes by you are going to discover that the furnace becomes sluggish, making it even more important to work with today’s oil price and ultimately get the solution you need to keep your house warm.