Energy Prices

What You Need to Know about Energy Prices

One of the most common questions we’re asked by Maryland and Delaware real estate agents is “What do we tell our clients who ask us about energy prices?” It’s a complicated question that can’t easily be summed up in a sound bite or two. But here is some key information that you can use when your clients ask you the tough questions about energy prices.

  • 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.
  • Heating oil prices in Maryland and Delaware reached their lowest point in years this past winter. With so much supply available, prices plummeted, saving homeowners significant amounts of money and making an oil-heated home a much more cost-effective investment.

What Will Heating Oil Prices Be Like in the Future?

There is good news in that the short- and long-term outlooks for heating oil prices are stable. According to the Energy Information Administration, Maryland and Delaware homeowners who heat with oil will continue to enjoy the lower prices of last winter for a number of years. In fact, prices are not expected to increase to 2014 levels for eight to ten years.

If you’d like to know more about the best ways to communicate to your clients about energy prices, contact us to order our FREE PRO$ materials or to request a FREE educational training session for your office.