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Things to Know
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October through April is considered the heating season.
The average annual usage in this area is 750 gallons with an average tank size of 275 gallons. If the tank is completely empty, it would hold between 220-255 gallons. The remaining space in the tank allows for oil expansion that occurs with rising temperatures.
Portsmouth is unusual in that wholesalers have deep water terminal access for barges to supply fuel. This keeps prices in this area lower than landlocked areas.
Heating oil is also called #2 which is its fuel number type. Every fuel type has a number classification pertaining to its viscosity and boiling point. Fuel prices usually decrease with a higher fuel number. This is why kerosene is also called K-1 is more expensive then #2 oil which is most common.
Heating oil and off road diesel are dyed red. On road diesel is clear. This is done to make sure the taxes of about $.50 per gallon are not evaded as engines can run on non taxed heating oil or off road diesel. Truckers are frequently pulled over to have their tank’s dipped to verify that the fuel is clear or taxed.
Heating oil has two main benchmarks for its crude supply. WTI (West Texas Intermediate) and Brent. For pricing purposes, East Coast heating oil follows the Brent Crude performance more closely than the WTI.
Heating oil delivery drivers are required to be licensed and pass a background check with Homeland Security due to the hazardous materials they’re trucking.
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