Understanding The Market And Price Fluctuations

We’ll Help You Make Sense of the Recent Volatile Heating Oil and Propane Prices

propane prices pennsylvaninaGiven the recent global events, it’s no surprise that we here at Poore’s Propane and Oil have fielded a few calls recently centered around two directly connected issues: the increase in fuel prices and worry about oversupply issues.

As you’ve no doubt noticed at the pump, oil—and propane—costs have become extremely volatile, to shock or confusion of many folks. With that comes concern that possible supply interruptions will prevent them from receiving a propane or heating oil delivery.

The increase in fuel prices was largely generated by the ongoing concerns with the pandemic. Following that, there was Russia’s invasion of Ukraine, which sent oil to over $110 per barrel and caused havoc in the energy markets. To say that we are currently in the midst of an extremely volatile energy market is an understatement.

To illustrate how this affects both of us, our suppliers notified us at night on March 2 that their costs would rise by 20 cents the next day. Then, in only 24 hours, those prices went up three more times for a total of 60 cents.

So What Happens Next?

Truth be told, we don’t know exactly where propane or heating oil costs will go from here. No one does. However, what we can tell you is that we hate this situation as much as you do.

Some customers believe that when costs rise, we make more money. Things are, in fact, the exact opposite. Customers cut their fuel usage. They find it difficult to pay their bills, and our receivables grow rapidly. Meanwhile, we must pay our suppliers in 10 days or less. It becomes a bit of a messy situation for everyone involved.

In any case, you can count on us to ensure that you’ll always have the heating oil or propane you need. We’ve been in business for almost 70 years, and we have excellent, long-standing relationships with our suppliers and financial institutions. 

In fact, we’ve already gotten calls from customers of other fuel companies that don’t have the safety that we provide when it comes to their propane supply. They’re telling us they can’t get deliveries for almost 20 days! With Poore’s, you won’t have to worry about a thing.

Controlling Your Fuel Costs

Is it difficult for you to meet Poore’s payment? Get in touch with us as soon as possible before you get behind. We are often able to come up with solutions to help mitigate the situation. Remember too that we do offer our Price Cap price protection plan for heating oil, and you’ll be able to enroll soon. Be sure to check our website in the coming months for more details.

Additionally, our SmartPay monthly payment plan will also soon be open for enrollment at no extra cost. This convenient plan helps spread your fuel costs into one low, monthly payment throughout the year—rather than getting hit for all your fuel expenses at once during the winter season.

Poore’s Propane is dedicated to providing our customers with the most dependable heating oil and propane delivery in and around the Delmarva region at the best possible prices. Contact us to learn more. We’ll be happy to help.