In the last 18 months, oil-heated homes in Connecticut have gotten a lot more attractive! Oil prices have fallen to levels that we haven’t seen since the early 2000’s. This means that oil-heated homes now cost significantly less to operate and are that much more appealing to purchase.
What’s more, the last two winters have seen lower oil prices, which means this isn’t just a blip on the radar. In fact, many experts seem to think that “a new normal” has been established.
What Will Heating Oil Prices Be Like in the Future?
If that isn’t good enough news, here’s some more; the short and long-term outlooks for heating oil prices are stable. Connecticut homeowners who heat with oil will continue to enjoy today’s lower prices for a number of years. According to the Energy Information Administration, prices are not expected to reach 2014 levels for eight to ten years. This means that home buyers can rest easy knowing that purchasing an oil-heated home today is a great investment for the future.
Energy Price Talking Points for Your Clients
- Energy prices are commodities that are traded on the open market. This means they are subject to economic forces like supply and demand. However, a price spike for any one type of fuel is uncommon. More often, we will see a gradual shift upward or downward in the price of energy.
- According to the Consumer Energy Council of America, it doesn’t make economic sense to switch heating fuels. That’s because the cost to convert fuels is often significantly more expensive than the cost of upgrading to a new, high-efficiency system using the same fuel. And with today’s low prices, the timetable for any payback on a conversion could take 20 or 30 years, if at all!
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