When one fuel price spikes, another follows
Know What it Means
One home heating fuel may spike at a certain time, and another will spike soon after. It's the economic nature of things. The fact is, ALL major heating fuel prices regularly fluctuate because of increasing global demand - and history shows they track each other. For over two decades, the Consumer Energy Council of America (CECA) has especially studied natural gas and oil prices. In report after report, the conclusion is the same: Since natural gas and heating oil prices historically track each other, "it is financially unwise in 95% of cases to convert from oilheat to natural gas." And "switching fuels makes little or no difference at all on your actual monthly heating bills." (www.cecarf.org)
CECA's long-term projections through to 2025 lead this independent non-profit research organization to further conclude, "There is no compelling evidence to suggest switching will make economic sense for the consumer. Investing in energy efficiency measures is the best option for most consumers, now and in the future."
What does it all mean? If you thought there might be a meaningful price advantage of one fuel over another, now or in the long term, clearly according to CECA there is not. So, price alone is not a good reason to consider switching, and switching fuels will not help you reduce home energy bills.
So what IS the answer? Improved efficiency and conservation. Improving the efficiency of your current home heating system through equipment upgrades, plus whole-home energy conservation measures are the only guaranteed ways to achieve home energy savings. And you can control both.