Home heating oil drop a relief

Home heating oil prices Nova Scotia

Nova Scotians tend to be paying less for furnace oil this wintertime than last.

According to All-natural sources Canada, the typical price of furnace oil this time around just last year in Halifax had been 102.3 cents per litre, in comparison to this week's price of 81.5 — a drop of about 20 per cent.

Meaning Haligonians tend to be preserving significantly more than $200 once they fill a-1, 000-litre tank.

Total, Haligonians have actually compensated about 10 cents less per litre compared to the Canadian average within the last 12 months, relating to All-natural sources. The national average this week is 91.5 cents per litre.

The product range in rates is due to a few factors, including your location and exactly what solutions a supplier may offer.

By way of example, the price for heating oil in Halifax ranged from 67.9 dollars per litre to 86.9 dollars per litre on Feb. 10, depending on the supplier as well as the area of distribution.

Also, more remote places have a tendency to spend more for home heating oil. After phoning above two-dozen oil suppliers, CBC discovered those who work in Yarmouth, brand new Glasgow and Whycocomagh had the highest rates.

What is behind this current year's cost drop?

Collapsing world petroleum rates have assisted cut the expense of fuel for several Maritimers this wintertime — New Brunswick is enjoying the most affordable cold weather home heating period in six years.

Oil rates have dropped considerably since mid-2014 when it sold for more than $100 a barrel. On Thursday, West Tx Intermediate slid only $26.19 United States, the best cost since 2003. Brent Crude is hovering around $30.

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