Heating Oil is an important item that is going to keep your building warm during the long winter months. However, heating oil is a major expense, and so it is important to know how to save as much money as possible when purchasing heating oil.
The first way to save money on heating oil, is to purchase it at the right time of the year. Generally, heating oil is most expensive at the start of the winter. This is because people are buying their heating oil, and the supply of oil goes down. The cheapest time to purchase heating oil is during the height of summer when the supply of it is highest in relation to demand. If you do need to purchase heating oil during the winter, it is best to wait for as long as possible as the price will start to go down as spring gets closer.
The second thing to know about heating oil is that there are a couple of different ways to pay for it. It is possible to purchase heating oil at a one-time flat rate. This has the benefit of allowing you to avoid paying extra money for a commodity. It is also possible to get a short term loan that should allow for you to purchase all of the heating oil that you will need for the entire winter. Some heating oil companies are even able to offer a savings plan that allows for you to put aside a small amount of money every month in order to offset the high one-time purchase price.
Lastly, it is possible to get certain tax deductions for purchasing heating oil. These tax deductions can allow for you to pay less for heating oil, or you can get a voucher that will allow for you to avoid having to pay for heating oil if you happen to be needy.