If you thought your oil or propane bills this winter were higher than in the recent past, you’re absolutely correct. Crude oil prices are now heading toward $70 a barrel, a huge leap from the low of $26 in 2016. Since last summer alone, crude oil prices have climbed 60 percent. The result has been higher prices for not only gasoline but heating oil and propane. The average price of heating in oil in Massachusetts, for instance, is up 50 cents a gallon or 20 percent more than a year ago at this time.
The biggest reason has been a reduction in overseas oil production. Two years ago, thanks to increased production in the United States, there was a glut of oil on the market and prices fell. However, the organization of oil-producing nations known as OPEC has convinced its members and other countries, such as Russia, to reduce oil production. As a result, that glut of oil has been eliminated in the past two years, causing prices to climb once again.
W.H. Riley & Son, which has been serving the heating needs of customers in Southeastern Massachusetts for nearly 150 years, has long-running ties with many fuel suppliers, enabling us to find the best wholesale prices for our customers. At W.H. Riley we have an Equal Pricing Policy (like gyms or cable companies) many heating companies entice customers with a low price that rises as time goes on. As a result, the most loyal customers are often paying the highest prices. W.H. Riley doesn’t resort to these bait-and-switch tactics. All of our customers pay an equal price for their fuel. We think that’s only fair.
For the fairest prices on oil and propane, contact W.H. Riley & Son at 508-699-4651 or 508-822-1282. You may also visit our newly updated website: www.whriley.com.