Cap Budget: The Best Way To Save Money On Home Heating Oil In 2023
If you’re worried about what next winter’s home heating oil bill will look like, then now’s the time to take control and lock into the best possible pricing before the cold weather arrives.
Cap budget pricing for your heating oil locks you into the year’s best pricing midway through the year. It protects you if (more like when) prices jump higher and higher as the months go by and the weather gets colder.
The truth is, most of us don’t have the time or industry knowledge to shop around for the best prices in our area, then stay on top of the trends to determine the best times to fill our tank and decide who to call for each delivery.
It’s even tougher now, with prices shooting up all the time and no way to predict what will happen next.
With cap budget pricing, that’s not an issue. You’ll know how much you’ll pay months ahead of time. That’s better peace of mind throughout the year and much easier budgeting without sudden price hikes or other surprises.
It’s an especially attractive offer for Main Line homeowners. Towns like Haverford, Wynnewood, and Bryn Mawr are well-known for large estates and old, historic homes. Many of them still use oil heat and often radiators — and many homeowners wouldn’t have it any other way.
Oil heat warms up your home faster than gas once the furnace kicks on. And, radiator heat isn’t dry like forced-air heating. People love the more comfortable “wet” heat that’s also quieter than the roar of air rushing through their vents.
But the downside, at least for the last two years, has been pricing. The cost per gallon just keeps going up, and not even the experts can predict when they’ll go back down.
Fortunately, cap budget pricing helps make the heat you love more affordable. And, it finally puts you back in the driver’s seat when it comes to your utility bills.
What Is Cap Budget Pricing For Home Heating Oil?
Think of cap budget pricing as insurance for your heating bill. Early in the year, your oil provider researches the best wholesale opportunities and pricing. Then, they review your usage from previous years.
You get a customized monthly fee that covers your projected oil usage or the entire year with that information. And, it’s based on the best prices your provider finds before the cold weather hits.
To guarantee those rates, there’s a small insurance premium placed on top of the per-gallon cost. As a result, you may notice you’re paying a few cents more per gallon than the current going rate.
But, even with that minor add-on, it’s much less than what you’d pay for a one-off delivery in the middle of winter when the prices have jumped again.
And, instead of bracing yourself for triple-digit (or even four-digit) delivery bills in the winter, you’ll pay a little bit every month.
What Is The Price For Home Heating Oil In 2023?
The price for oil now, in January of 2023 is about $4.49 per gallon for residential heating oil in Pennsylvania. It was a bit higher at times last year, but you never know when it’s going to rise and fall.
The price for home heating oil in March of 2022 was around $4.96 per gallon. By the end of April, it neared $6 a gallon. By comparison, the prices were $2.60 and $2.87 in March 2020 and 2021, respectively.
Why Are Home Heating Oil Prices So High?
2021 into 2022 was a perfect storm for rising oil prices. During the pandemic, lockdowns and supply chain problems caused shortages that drove up prices as people began traveling more in 2021.
It’s also prohibitively expensive for oil companies to ramp up oil production suddenly. As a result, the industry had been slow to keep up with sudden rising demand.
Finally, geopolitical forces are at play as Russia, a major oil exporter faces severe backlash and embargos over the ongoing war in Ukraine.
All this has resulted in skyrocketing heating bills and uncertainty about whether homeowners will experience another winter of extremely high oil prices.
In November of 2022, oil prices were at an all-time high, but they have leveled out and begun to fall a bit since then. They are still hovering in a higher place than we would like to see, but need to be ready for another sudden hike just in case.
How (And When) To Sign Up For Cap Budget Oil Pricing On The Main Line
In June, John Cipollone, Inc. will announce its cap budget pricing and program for 2023 and 2024. After that, you’ll have until the end of August to sign up. The program starts in the new year, when you begin making monthly payments toward your next year’s oil deliveries.
Each program lasts 10-12 months, so you’re locked into that pricing (and your low monthly payment plan). After that, you can decide whether to sign up again for 2024-2025.
Our program also gets you the other benefits our regular customers enjoy!
We look at your deliveries over the past few years to determine when you’re most likely to need more oil. Then, we’ll call you to set up a time — not the other way around. This way, you’re not constantly checking on your tank level and trying to remember to call us for a visit.
Free Cleaning And Inspection
Every delivery from Cipollone comes with a boiler inspection and cleaning. It’s an excellent way to prevent expensive breakdowns later in the season. And, you’ll save money by using less oil.
A clean, optimized system runs smoothly and requires fewer resources than a boiler or furnace that’s never maintained. With a quick inspection and cleaning with each visit, your heater is always in the best condition possible.
Cap Budget Pricing For Home Heating Oil In Havertown, PA
John Cipollone, Inc has provided home heating oil delivery to Havertown, PA and other Main Line towns since 1953. Along with free inspection and cleaning with every delivery, we also offer cap budget pricing to get you the prices on home heating oil all year. To learn more or sign up, call us at 610-446-7877.