
While it’s dropped in recent weeks, it’s no secret that the price of oil is at record levels, jacking up how much you pay each week for a gallon of gas. And while it’s been likely a non-factor over the past few months in terms of how much you’re paying to keep your house warm (probably not a factor at all, considering how hot it’s been around the country), my advice would be not to get used to it.
The cost of heating oil is expected to jump up by about 30% during the next few months as we start turning on the heat at home–bad for us, but probably good for the natural gas companies, whose product is only expected to jump up some 22% on average around the country.
Who’s going to get hit the most? Well, if you live in the Northeast, probably you. Half of U.S. households already use natural gas, but a great majority of heating oil consumers are located in the Northeastern states. If that’s you, you may want to consider converting from oil to natural gas which, in the short-term may cost you between $3,000 and $7,000. But in the long-term, my friend, you’ll probably be happy you did convert. Check with your local providers, however, because depending on where you live, this may not even be an option.
There are benefits to natural gas, above and beyond the price, as well. Natural gas means less maintenance, and you can use it to cook, for your fireplace, and to heat water, amongst other possible uses. So look into it–you may save yourself some money and improve the efficiencies that oil just doesn’t handle.





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1 The Financial Markets, September 8, 2008 | The Finance Blog // Sep 8, 2008 at 2:25 pm
[...] market was to see a big drop in the price of oil. Well, we’ve now seen a 27% drop in the price of oil since its July 3 closing high, but, as of last Friday, stock prices were still languishing near [...]
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