January’s cold and snow means more business for oil companies

Oil prices are down $1.30 per gallon

SPRINGFIELD, Mass. (WWLP) – This week has been noticeably colder than most of the winter season so far. 22News found out what that meant for home heating oil companies.

A snowy, cold day meant more business for home heating oil companies. A mild December and lower oil prices have helped customers stretch their dollar further this season, so far.

“I hope everything goes down. We have a lot of people who are on fixed incomes in this area so it would be really, really nice if things went down, but you never know,” said Theresa Luppi, a Chicopee resident.

22News followed an oil truck as it filled customers’ tanks in Springfield and Chicopee. At Noonan Energy, oil prices are down $1.30 per gallon from last year at this time.

Some customers choose to prepay their heating oil for the whole winter in the late summer at a fixed rate, but Ed Noonan of Noonan Energy told 22News this year, those customers are calling saying they wish they hadn’t done that.

“Two other years other than this year, where the price went down enough to make a difference and the people were not really happy. But by and large, it’s been a good program for the people that have chosen it and people have to remember why they chose it,” Noonan told 22News.

He said it’s a difficult season to predict oil prices: they have changed multiple times during each day. Natural gas is still the most cost-effective way to heat your home.

Click Here to find out about programs to help you pay your heating bill this winter.

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