Every company wishes to provide its customers with quality products and also charge fair prices for the commodity but at times there are some external factors which come into play changing the whole equation. Oil prices are very volatile, they keep on changing, one day they may be high while on another duration may be down.
These changes are supposed to be reflected on the consumer prices, meaning that the end user of the product will be affected by the volatility. Crude oil prices are subjected to a lot of pressure, leading to price changes, this means that the home heating prices will significantly be affected leading to high cost of maintenance. The oil prices in Springfield MA just like any other region will also be affected by the location. If the customer is far away from the depot, the cost of getting the oil to him or her might be higher. Apart from the crude oil prices, there are other factors that influence the heating oil prices.
The exchange rate; since crude oil trade uses United States dollar, its strengthening or weakening against the major currencies can greatly affect the price. This will depend if the trade is using a different currency. This change in price will obviously be reflected in the home heating oil price. This is something that a dealer or even customer has little control.
It is important to keep track of the changes in the prices; this would help the customer to buy the commodity in bulk when the prices are low. A heating oil tank can serve as a storage facility for the bulk oil. This will make sure that you have enough oil for use even at times when the prices have risen. It will also cushion you from price volatility, helping to reduce the cost of heating the house.