What You Can Do about High Oil Prices
With current world events, the energy markets have had tremendous price fluctuations. You see it at the gas pumps, you hear it every day on the news with the rise in oil futures, and you feel it when you get a bill for however you heat your home—with natural gas, heating oil, propane, or electricity. All have been affected in one way or another. Natural gas and electricity have had huge increases in both product and transmission rates. Heating oil and propane have had serious increases, the likes of which have not been seen since 2008 and 2014. Delivery costs continue to escalate in all markets.
How to Reduce Your Heating Fuel Costs
There are ways you can soften the blow of high prices. Check out the list below to learn a handful of ways you can take control of your energy bills during stressful times when wholesale and retail prices are higher, as they are now:
Set up payment terms on your current balance if you are unable to pay in full
We are often able to work something out if you are unable to pay your current fuel balance in full. All we ask is that you communicate with us, so we can craft a payment plan that works for everyone.
Ask about our prompt-pay discount and other price-per-gallon markdowns
Did you know that we offer per-gallon discounts for things like prompt payment? Get in touch with our experts to ask about different markdowns that you may be able to take advantage of. Every little bit can make a difference when fuel prices are high like this.
Join a budget plan to spread your fuel costs out more evenly throughout the year
Our SmartPay Payment Programs divide your annual fuel payments into 11 monthly increments. That way, instead of footing 50% of your yearly energy bill during January, you can have smaller, more manageable invoices that integrate more seamlessly with other monthly costs.
Enroll in a price protection plan to lock in a low rate
Our price protection plans allow customers to lock in low rates. This type of plan can protect you in the case of a price fluctuation like we’re experiencing now. Chat with an FSi team member to learn more about enrollment opportunities for price protection.
Coordinate your final delivery of the season
You may have enough fuel to hold off on delivery for now. Rather than topping off a nearly full tank, you can contact us if you’re considering holding off. We can check your tank level and give you an estimate on how long your tank of fuel may last based on your usage history, potentially postponing your next delivery in case prices fall.
Consider a programmable thermostat to save on fuel use
Programmable thermostats can significantly help you reduce your fuel usage by turning down the temperature automatically when you’re asleep or out of the house. Consider installing one of these devices for convenience and savings.
Get an HVAC tune-up to further reduce your fuel use
An annual tune-up of your heating and cooling equipment can reduce your fuel usage by up to 10% by helping your systems to run more efficiently. Contact FSi if you’d like to schedule these important maintenance appointments.
Consider investing in a conversion to propane
You may want to consider a conversion to propane gas. Though fuel prices across the board are high right now, propane equipment has been known to last for years and require minimal repairs, which could reduce your service bill for years to come.
On the Bright Side…
The good news is that there is no shortage of product, especially in our marketing area. The Northeast is well stocked with heating oil and propane. The rise in cost, however, is a concern to us all, for you as the end user, and us as your supplier. You are paying more to heat your home, and we are paying more to buy and deliver. Just keep in mind that we will get through this as we have in the past. If you can think back to the previous price rises, there were sudden price drops. There is no reason to think that this will not happen again. To what extent, no one knows.
Thank You for Your Trust in FSi
The bottom line is… DON’T PANIC! FSi has been in business for many years and is no stranger to fluctuating fuel prices and supply shortages. We will do all we can to help our customers, just like we always have. If you need anything, don’t hesitate to reach out to our team, and we’ll be happy to do everything we can. Thank you for trusting our fuel experts with your home comfort during this difficult time. You’ll be the first to know when fuel prices start to go back down again.