For buyers moving into a new home this Spring, it may not cross their mind to think about oil until fall, but they should! With oil prices still at historical lows, it is important to know what is happening in the market in order to take advantage of low prices now.
Over the past few years, crude oil production in the United States has reached unprecedented levels, while the current global demand for crude oil is slowing. As a result, crude and heating oil inventories remain at very high levels, and as a result, prices have come down significantly. As always, there are conflicting predictions as to whether or not “a bottom has been reached” as the world’s largest producing countries all contemplate steps they should take to bolster the market.
While there are many variables and unknowns, there are specific pricing programs that allow homeowners to take advantage of low prices now while also ensuring they will benefit from any further declines.
The Gault Energy & Home Solutions Cap Price Protection Program: The program creates a ceiling price that will not be exceeded no matter how high oil prices increase, but it also allows the price to decrease when oil prices decline.
- Customers must specify the amount of gallons they want to protect
- Performs well when market conditions move either up or down dramatically
- Price protection fee is required
For more information on the Cap program, visit gaultenergy.com/heating-oil