Historical Heating Oil Prices in CT

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 It is estimated that approximately 45–50% of homes in Connecticut use heating oil for home heating. This is one of the highest percentages in the United States, due in part to the state's history of oil production and the relative abundance of heating oil in the region. However, the exact percentage can vary depending on the region of the state, with higher usage in rural and suburban areas and lower usage in urban areas, where natural gas is more commonly used. 

The spread in prices for heating oil refers to the difference in price between the cost of crude oil, which is the primary component of heating oil, and the price that consumers pay for heating oil at the retail level. This spread can vary depending on a number of factors, including the global supply and demand for crude oil, the costs of refining and transporting heating oil, and local market conditions such as competition among suppliers, weather patterns, and regional regulations.

When the price of crude oil increases, the spread between the wholesale price of heating oil and the retail price can widen, as suppliers may need to cover higher costs of production and transportation. Conversely, when the price of crude oil decreases, the spread may narrow as suppliers pass along these savings to consumers. Other factors such as supply disruptions, changes in government policies, and fluctuations in the value of the US dollar can also affect the spread in prices for heating oil. As a result, prices for heating oil can vary widely across different regions and over time.

As seen in the spreadsheet from the CT spread between the highest price for heating oil and the lowest can differ as much as 35-40%.  Our service lets the customer see price transparency.