As long Islanders we can’t help but think how expensive the home heating oil prices have become in past years. Home heating oil prices get determined by the fuel terminals every business day at 6pm or by midnight after receiving the market prices watching through commodity market.

Historical Home Heating Oil prices get recorded by Governmental agencies and some associations, please check the date below provided by governmental agencies.

Historical heating oil Prices by State in dollars (Retail)

Years                     1992        1995        1998        2000        2004        2007        2010        2012        2014

New York                1                1              1.25           2             2.45         2.90           3              4              4.15

Connecticut           1                1             1.17          2              2.40        2.90           2.92         4              4.19    

Maine                    0.90        0.80         0.85         1.75          1.90        2.59           2.67       3.68         3.89

Massachusetts      1              1             1.15          2               1.70        2.50          2.70       3.90         3.97

Pennsylvania         1             0.90        0.90          1.78          1.38        2.40          2.10       3.70         3.65

Why are Heating Oil Prices Different?

As we mentioned above Home Heating Oil Prices are traded at commodity market at today’s price as of July 22 Monday 2014 is $3.0125 which is terminal wholesale price to Heating Oil Companies. As it is free market terminals as actual product manufacturer are free to set their own prices. Below you will see one heating oil Company pricing as whole sale to Heating Oil Companies in Long Island. Prices depends on the state yon are located some states add %2.5 sales tax like in New York Suffolk county. And some states pat lower or higher this I mean the sales taxes make the prices different from one state to other

Heating Oil Pricing In New York. (Suffolk County)

Base Wholesale Price:                    $   2.298113

Federal Tax:                                      $   0.243000

Federal LUST Tax:                           $   0.01000

Federal Oil Spill Tax:                       $ 0.001900

New York State PB Tax:                 $ 0.166500

New York State Prepaid Tax:       $ 0.210000

New York State Spill Tax:              $ 0.002920

New York State DMF Tax:             $0.080000

Total Heating Oil Terminal Rack Price:   $3.0125 Cost to Heating Oil Companies

From this point Retailer who is a Heating Oil Company sets their own pricing which is based on following factors plus profit

Quantity Ordered by Client

Delivery Distance

Sales Tax: %2.5 of Total Invoice

Cash / Credit Difference

Competition Factors

For instance posted #2Heating Oil Price as of 7/23/14 for one Long Island Heating Oil Company as follows;

50 Gallons to 100 Gallons:    $ 3.659

100 Gallons to 150 Gallons   $3.449

150- Gallons to 200 Gallons $ 3.259

200 Gallons to 300 Gallons    $3.149

300 Gallons and Over              $3.129

What can we suggest to consumers when buying Home Heating oil?

Using cash or check for your Home Heating oil Delivery  is plus where you can save up to ten cents, also do not forget by using check or cash and gathering with your neighbors to put a large order can save you up to $0.75 meaning that you can save over thousand or more per season. Please visit this website to learn more about Neighborhood group buying for heating oil.

Call us at 631 779 3196 or email info@dominofuel.com to get our best heating oil price today