Traditionally, the approach of winter means a rise in fuel prices along with a steep drop in temperatures, but this year is looking to defy those expectations. Heating oil prices have fallen in several states. According to the U.S. Energy Information Association (EIA), those price drops are the beginning of a long-term trend rather than a short-term reprieve.
Some contractors claim they have been converting oil equipment to natural gas at a record pace. But that doesn’t mean oil furnaces will fade from the marketplace, as there are many areas that have limited access to natural gas. In addition, it can be expensive to convert, and new oil furnaces can provide better comfort and higher efficiencies.