Wednesday, March 9, 2011

Home heating oil prices ... through the roof

For a number of years, I have been tracking personal home heating oil pricing but, admittedly, have not been very thorough in my tracking. During the last seven and a half years, I've mostly estimated the amount of money I would need for home heating oil based on what was spent the year before.
When you are living paycheck to paycheck, as most of us are, it's difficult to save a specific amount of money. Although, you have to in order to make it all work.
However, I recently requested a printout from our oil vendor of how much oil we have purchased. Since we use the same company year after year, they had all the data for us. The printout contained both amounts of oil purchased and the prices paid.
Here is the data showing the price per gallon of the oil purchased:



So, in seven and half years, the per gallon price has nearly tripled although there have been dips here and there. Interestingly, or maybe not so, the CPI rate on $1.20 from 2003 to 2011, is $1.44, according to the online calculator. So, the home heating oil rate has increased 2.5 times the CPI rate.

10 comments:

Mark de Zabaleta said...

Interesting analysis. Many times the CPI data do not reflect the true rise of certain products!

P.S: If you do not like my comments let me know.

Mark de Zabaleta

Mike Rice said...

I recently paid $3.89 per gallon for heating oil. My BC-BS is costing me $1387.36 per month.

I'm not going to be retired - just tired. So much for the "golden years."

Tony said...

@Mark: No problem. Comment to your heart's content. I don't always get them up online fast enough, due to deadline issues. :-) Thanks for reading!

@Mike: I hear ya brother. I commute 131 miles per day to get to the job. I haven't paid more than $3.45 yet. I'm hoping it will go back down. And, yeah, I'm not looking forward to the so-called "golden years" either ... Hang in the brother and thanks for reading!

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