Refiners make heating oil from crude oil, which is also the raw material for other petroleum products such as gasoline and jet fuel . Approximately seven percent of American households - some 8.5 million in total, with nearly one-third in the Northeastern states - rely on heating oil to keep warm in winter. Late summer is a good time for consumers to further winterize their homes to help reduce fuel use (and save money) and to explore options for purchasing winter supplies, including seasonal contracts with heating oil companies that may offer price advantages. Heating Oil Prices are Linked to Crude Oil Prices Heating oil prices are linked to crude oil prices. Crude oil is the source of a number of important fuels, including gasoline, heating oil and diesel. Because these fuels all have the same starting point, refineries must decide what to produce when, based on a mix of supply and demand calculations. The price a refiner pays for crude oil is the chief factor deter...
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