Natural gas has grown to be a reliable and affordable alternative to oil for household use. For years natural gas has been far less expensive than oil and many people have been making the switch. However, oil prices have been steadily falling within the last few months and the price gap has shortened dramatically. Does this mean that converting from oil to natural gas is out of the question?
Saving Money By Staying With Oil
Oil prices are the lowest they’ve been in many months. While the price of oil is still greater than that of natural gas, the difference is not by much. The main issue with converting from oil to natural gas is the upfront costs. The amount you will save annually from switching won’t offset the prices you’ll pay to complete the conversion.
Saving Money By Converting to Natural Gas
First things first, natural gas is cheaper than oil. Even though the difference is not by much right now, it is still less expensive. As of now, oil is on the lower end of the price point spectrum, but that can change within the day. Historically, oil prices have been up and down, and the highs have been very expensive. Any world conflict or international legislation that is passed could potentially affect the prices of oil.
Which is the Better Option?
While oil prices are sitting at a low, it might not be that way for long. When you convert to natural gas you can ease your mind knowing you will be unaffected by the future price changes of oil. Eventually, oil prices will rise and it will be immensely more expensive to use oil in your home compared to natural gas. By making the switch now, or the second the oil prices rise, you will begin to save money.
Many people may be worried about the upfront costs of converting from oil to natural gas, but there are ways to soften the blow. At Tri-City Heating and Cooling, we offer rebates to take money off of your conversions costs. Not only will you be saving in your monthly bills, but in the setup of your gas heating systems as well. To learn more, or to schedule a service, give us a call at (203) 303-5700.