For Immediate Release:
Contact Shelly Sindland For More Information
shellysindland@ctema.com
CEMA offers insights, guidance, and assistance resources for residents
Cromwell, Connecticut: Connecticut’s recent stretch of below-freezing temperatures has led to a sharp increase in demand for home heating oil, placing upward pressure on energy costs across the region, according to the Connecticut Energy Marketers Association or CEMA.
“Anytime temperatures drop this fast and stay this cold, Connecticut families feel it not just outdoors, but in their energy bills as well,” said Chris Herb, President and CEO of CEMA. “Our members are working around the clock to ensure every home and business stays warm, safe, and has the heating fuel they need during this surge in demand.”
Fundamentals: Supply and Demand Pressure
Supply:
Heading into the winter, heating oil inventories across the Northeast were already below the five-year average, which naturally puts upward pressure on prices. Despite this, Connecticut remains well supported with multiple supply channels, including barge, pipeline, rail, and over-the-road delivery.
“Connecticut is fortunate to have diverse and reliable supply pathways,” Herb noted. “Customers can be confident that fuel will continue to reach their homes.”
Demand:
A colder-than-normal October and November, in addition to the coldest December the region has experienced in several years, have fueled a significant increase in heating needs. Heating degree days, a key measure of temperature-driven energy use, are up approximately 20 percent compared to last year.
“When it is this cold, people simply need more fuel to stay warm. That is the reality we are facing this season,” Herb said.
Herb recommends that heating oil and propane customers work with the local dealers to sign up for automatic delivery to ensure that your tank remains full and so they get the most efficient delivery possible.
Technicals: Market Forces at Work
On the NYMEX, future heating oil prices are currently lower than spot prices, a condition known as backwardation. While this may seem like a sign of easing costs, it often discourages wholesalers from building inventory, which can tighten supply in the short term and push prices upward.
Compounding this challenge is the ongoing Russian Ukrainian war, which has significantly reduced European imports that historically supplemented New England’s supply.
“These are complex global and regional pressures intersecting at once, and they all matter when we talk about energy prices,” Herb explained. “Our job is to help customers understand what is happening and navigate it as affordably as possible.”
Assistance Available to Residents
Low-income households seeking support with heating costs are encouraged to contact 2-1-1 to determine eligibility for the Connecticut Energy Assistance Program (CEAP) or Generation Power CT (formerly Operation Fuel).
“No one in our state should struggle to stay warm. If you need help, please reach out. These programs exist for moments like this,” Herb emphasized.
Summary and Cost-Saving Tips
No matter how Connecticut residents heat their homes, this cold weather pattern means increased fuel consumption is unavoidable. However, there are steps homeowners can take to improve efficiency and control costs:
- Have a licensed technician perform an annual tune-up for peak system efficiency to help reduce the amount of fuel you use to heat your home.
- Clean or replace filters regularly to maintain proper airflow.
- Keep furniture and drapes away from heat sources.
- Close curtains and blinds at night and open them during sunny hours.
- Keep closet doors closed to avoid unnecessary heating.
- Close and seal vents in rarely used rooms to concentrate heat where it matters.
“A few small adjustments can make a meaningful difference in both comfort and cost, especially during cold stretches like this one,” said Herb.
For the latest oil prices, click here to access a Connecticut Department of Energy and Environmental Protection (DEEP) PDF that tracks oil prices.
If you prefer to copy and past the link directly, see it below.
About CEMA
The Connecticut Energy Marketers Association (CEMA) represents more than 585 member companies and 13,000 Connecticut-based employees in the home heating and motor fuel industry. Our 243 retail and wholesale members are dedicated to supporting their communities, providing outstanding service to customers, and promoting a socially responsible, environmentally conscious future for the liquid fuels industry.